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

Talkspace, Inc. (NASDAQ:TALK) has received an average recommendation of “Hold” from the nine brokerages that are presently covering the stock, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.5625.

A number of equities research analysts recently weighed in on TALK shares. KeyCorp cut Talkspace from an “overweight” rating to a “hold” rating in a report on Tuesday, March 10th. Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. William Blair cut Talkspace from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Needham & Company LLC cut Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Barclays lowered their target price on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research note on Monday, March 9th.

Talkspace Price Performance

TALK stock opened at $5.19 on Monday. The business has a fifty day moving average price of $5.11 and a 200 day moving average price of $4.11. Talkspace has a fifty-two week low of $2.22 and a fifty-two week high of $5.20. The stock has a market capitalization of $869.38 million, a price-to-earnings ratio of 103.82 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Talkspace had a return on equity of 6.89% and a net margin of 3.40%.The firm had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $61.91 million. On average, equities analysts expect that Talkspace will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Several hedge funds and other institutional investors have recently made changes to their positions in TALK. Mak Capital One LLC acquired a new stake in shares of Talkspace in the 4th quarter valued at $8,042,000. Stoic Point Capital Management LLC acquired a new stake in shares of Talkspace in the 4th quarter valued at $7,554,000. Royce & Associates LP increased its stake in shares of Talkspace by 526.9% in the 3rd quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock valued at $6,001,000 after buying an additional 1,827,459 shares during the period. Metavasi Capital LP increased its stake in shares of Talkspace by 77.3% in the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock valued at $9,818,000 after buying an additional 1,179,156 shares during the period. Finally, Deutsche Bank AG increased its stake in shares of Talkspace by 14.6% in the 4th quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock valued at $25,753,000 after buying an additional 905,304 shares during the period. 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.