Talkspace, Inc. (NASDAQ:TALK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $4.8333.

Several research firms have issued reports on TALK. UBS Group reaffirmed a “buy” rating on shares of Talkspace in a research report on Tuesday. Barclays started coverage on Talkspace in a research note on Monday, December 8th. They issued an “equal weight” rating and a $3.50 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of Talkspace in a research report on Tuesday, December 2nd. Zacks Research upgraded shares of Talkspace from a “strong sell” rating to a “hold” rating in a report on Friday, October 31st. Finally, Canaccord Genuity Group set a $6.00 target price on shares of Talkspace in a research note on Tuesday.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Royce & Associates LP raised its holdings in Talkspace by 526.9% in the 3rd quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock worth $6,001,000 after acquiring an additional 1,827,459 shares during the last quarter. CenterBook Partners LP boosted its holdings in Talkspace by 114.6% in the second quarter. CenterBook Partners LP now owns 2,478,970 shares of the company’s stock worth $6,892,000 after purchasing an additional 1,323,964 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in Talkspace by 42.5% during the second quarter. Balyasny Asset Management L.P. now owns 2,021,738 shares of the company’s stock valued at $5,620,000 after buying an additional 603,252 shares during the last quarter. Vanguard Group Inc. increased its stake in Talkspace by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock worth $26,090,000 after buying an additional 483,012 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Talkspace by 41.5% in the second quarter. First Eagle Investment Management LLC now owns 1,601,130 shares of the company’s stock valued at $4,451,000 after acquiring an additional 469,280 shares in the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Talkspace Trading Up 0.1%

NASDAQ TALK opened at $3.59 on Tuesday. The firm has a market cap of $593.89 million, a price-to-earnings ratio of 119.51 and a beta of 1.20. Talkspace has a 1-year low of $2.22 and a 1-year high of $4.36. The company has a 50 day moving average of $3.26 and a 200-day moving average of $2.87.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. The business had revenue of $59.38 million for the quarter, compared to analyst estimates of $57.45 million. Talkspace had a return on equity of 3.75% and a net margin of 1.98%. On average, analysts forecast that Talkspace will post 0.08 earnings per share for the current year.

Talkspace Company Profile

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.