Talkspace, Inc. (NASDAQ:TALK) Receives $5.56 Consensus Target Price from Analysts

Talkspace, Inc. (NASDAQ:TALK) has received an average rating of “Hold” from the nine ratings firms that are covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $5.5625.

A number of research firms recently commented on TALK. Wall Street Zen downgraded Talkspace from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. KeyCorp lowered shares of Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. Northland Securities cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Barclays dropped their price objective on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a report on Monday, March 9th. Finally, UBS Group reiterated a “buy” rating on shares of Talkspace in a research note on Tuesday, December 30th.

Institutional Trading of Talkspace

Hedge funds have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd boosted its stake in shares of Talkspace by 254.9% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 23,982 shares of the company’s stock worth $87,000 after acquiring an additional 17,225 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after purchasing an additional 8,015 shares during the last quarter. Beartown Capital Management LLC acquired a new position in Talkspace during the fourth quarter worth $1,089,000. XTX Topco Ltd grew its holdings in shares of Talkspace by 121.1% in the fourth quarter. XTX Topco Ltd now owns 132,409 shares of the company’s stock valued at $481,000 after purchasing an additional 72,512 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Talkspace in the 4th quarter valued at approximately $66,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Stock Performance

NASDAQ:TALK opened at $5.14 on Friday. The company has a market capitalization of $858.79 million, a P/E ratio of 102.82 and a beta of 1.18. Talkspace has a 12 month low of $2.22 and a 12 month high of $5.19. The firm has a fifty day simple moving average of $4.30 and a 200-day simple moving average of $3.50.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $61.91 million. Talkspace had a return on equity of 6.89% and a net margin of 3.40%. Equities analysts forecast that Talkspace will post 0.08 EPS for the current year.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.