Talkspace (NASDAQ:TALK) Trading Down 9.5% – Here’s Why

Talkspace, Inc. (NASDAQ:TALK)’s share price dropped 9.5% on Monday . The company traded as low as $4.52 and last traded at $4.5150. Approximately 753,750 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 1,701,044 shares. The stock had previously closed at $4.99.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on TALK shares. Wall Street Zen raised Talkspace from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Zacks Research upgraded Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. UBS Group restated a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Canaccord Genuity Group set a $6.00 target price on shares of Talkspace in a research note on Tuesday, December 30th. Finally, Barclays started coverage on shares of Talkspace in a report on Monday, December 8th. They set an “equal weight” rating and a $3.50 target price for the company. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.13.

Talkspace Stock Down 7.4%

The stock has a 50-day moving average of $3.86 and a 200 day moving average of $3.23. The stock has a market cap of $765.35 million, a PE ratio of 92.42 and a beta of 1.20.

Talkspace (NASDAQ:TALK) last issued its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. Talkspace had a return on equity of 6.97% and a net margin of 3.40%.The business had revenue of $63.00 million during the quarter, compared to the consensus estimate of $61.91 million. Research analysts forecast that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Talkspace

Several institutional investors and hedge funds have recently bought and sold shares of TALK. State of Alaska Department of Revenue purchased a new stake in shares of Talkspace in the 3rd quarter valued at approximately $25,000. Cerity Partners LLC purchased a new stake in shares of Talkspace during the 2nd quarter valued at approximately $28,000. Neuberger Berman Group LLC purchased a new stake in shares of Talkspace during the 2nd quarter valued at approximately $29,000. Vise Technologies Inc. acquired a new position in Talkspace in the fourth quarter valued at approximately $40,000. Finally, Xponance Inc. purchased a new position in Talkspace in the third quarter worth approximately $31,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.