Talkspace (NASDAQ:TALK) Reaches New 1-Year High – Still a Buy?

Talkspace, Inc. (NASDAQ:TALK) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $4.95 and last traded at $4.9280, with a volume of 1228056 shares traded. The stock had previously closed at $3.93.

Analysts Set New Price Targets

Several analysts recently weighed in on TALK shares. Wall Street Zen upgraded Talkspace from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. KeyCorp raised their target price on shares of Talkspace from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Canaccord Genuity Group set a $6.00 price target on shares of Talkspace in a report on Tuesday, December 30th. UBS Group reissued a “buy” rating on shares of Talkspace in a research note on Tuesday, December 30th. Finally, Zacks Research raised shares of Talkspace from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Talkspace has a consensus rating of “Moderate Buy” and a consensus target price of $4.88.

Talkspace Stock Performance

The company has a market cap of $819.19 million, a price-to-earnings ratio of 165.56 and a beta of 1.20. The business has a 50-day simple moving average of $3.80 and a 200-day simple moving average of $3.18.

Institutional Trading of Talkspace

Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new position in Talkspace during the 3rd quarter worth approximately $25,000. Cerity Partners LLC purchased a new stake in shares of Talkspace during the 2nd quarter worth approximately $28,000. Neuberger Berman Group LLC acquired a new position in Talkspace during the second quarter worth $29,000. Vise Technologies Inc. acquired a new position in Talkspace during the fourth quarter worth about $40,000. Finally, Xponance Inc. purchased a new position in Talkspace during the third quarter worth $31,000. 57.37% of the stock is owned by institutional investors and hedge funds.

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.