Talkspace (NASDAQ:TALK) Announces Quarterly Earnings Results

Talkspace (NASDAQ:TALK) released its quarterly earnings data on Monday. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.06), FiscalAI reports. The business had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.80 million. Talkspace had a return on equity of 6.89% and a net margin of 3.40%.

Talkspace Stock Performance

Shares of TALK stock remained flat at $5.19 during mid-day trading on Monday. The stock had a trading volume of 1,901,509 shares, compared to its average volume of 3,315,169. Talkspace has a twelve month low of $2.22 and a twelve month high of $5.20. The firm has a market capitalization of $869.39 million, a P/E ratio of 103.82 and a beta of 1.07. The firm’s 50-day moving average is $5.11 and its 200-day moving average is $4.11.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TALK. KeyCorp cut Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. Needham & Company LLC cut Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Barclays cut their price objective on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research report on Monday, March 9th. Northland Securities cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, William Blair cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.56.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TALK. Mak Capital One LLC purchased a new position in shares of Talkspace in the fourth quarter valued at $8,042,000. Stoic Point Capital Management LLC purchased a new position in shares of Talkspace in the fourth quarter valued at $7,554,000. Metavasi Capital LP increased its position in shares of Talkspace by 77.3% in the fourth 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 in the last quarter. Deutsche Bank AG increased its position in shares of Talkspace by 14.6% in the fourth 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 in the last quarter. Finally, Balyasny Asset Management L.P. increased its position in shares of Talkspace by 42.5% in 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 in the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.