Talkspace’s (TALK) Sector Weight Rating Reiterated at KeyCorp

Talkspace (NASDAQ:TALK)‘s stock had its “sector weight” rating reaffirmed by analysts at KeyCorp in a report issued on Tuesday,Benzinga reports.

A number of other equities analysts have also weighed in on TALK. Wall Street Zen lowered Talkspace from a “strong-buy” rating to a “buy” rating in a research note on Sunday. William Blair lowered shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday. Barclays set a $5.25 price target on shares of Talkspace in a report on Monday. Finally, Canaccord Genuity Group reissued a “hold” rating on shares of Talkspace in a research note on Monday. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $5.56.

Talkspace Trading Up 7.6%

NASDAQ:TALK opened at $5.12 on Tuesday. The company has a 50 day simple moving average of $4.12 and a two-hundred day simple moving average of $3.40. The company has a market cap of $848.18 million, a PE ratio of 102.42 and a beta of 1.17. Talkspace has a 12 month low of $2.22 and a 12 month high of $5.18.

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

Hedge Funds Weigh In On Talkspace

Institutional investors have recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in Talkspace during the 3rd quarter worth about $25,000. Cerity Partners LLC bought a new position in Talkspace in the second quarter worth approximately $28,000. Neuberger Berman Group LLC purchased a new stake in Talkspace during the second quarter worth $29,000. Xponance Inc. bought a new stake in Talkspace during the 3rd quarter valued at $31,000. Finally, Nierenberg Investment Management Company Inc. purchased a new position in Talkspace in the third quarter valued at about $32,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace News Roundup

Here are the key news stories impacting Talkspace this week:

• Positive Sentiment: UHS agreed to buy Talkspace for $5.25 per share (~$835M), providing a clear takeover price and likely support for the stock. UHS acquisition press release
• Positive Sentiment: Major outlets confirmed the deal (Reuters coverage), increasing visibility and reducing uncertainty about the buyer. Reuters: UHS strikes $835M deal
• Neutral Sentiment: Trading in TALK was temporarily halted ahead of the announcement for “news pending,” a standard market reaction to material M&A news. Trading halt notice
• Negative Sentiment: Multiple law firms (M&A Class Action Firm, Ademi, Halper Sadeh, Halper Sadeh LLC) have launched investigations/ shareholder alerts questioning whether the $5.25 price is fair and whether the board fulfilled its duties — these could lead to litigation, delays, or re-negotiation. M&A Class Action Firm alert
• Negative Sentiment: Coverage raising concerns that insiders may receive preferential terms or that deal protections could limit competing bids increases the risk the transaction faces challenges. Article on potential insider benefits
• Negative Sentiment: Analysts have cut ratings recently (William Blair and Needham downgraded to “hold”; Canaccord reaffirmed “hold”), which could neutralize further upside absent a higher bid or clearer path to closing. Analyst downgrade coverage

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.