Talkspace (NASDAQ:TALK) Sets New 12-Month High – What’s Next?

Talkspace, Inc. (NASDAQ:TALK)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.20 and last traded at $5.20, with a volume of 1963983 shares traded. The stock had previously closed at $5.19.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. William Blair cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Needham & Company LLC cut Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Barclays decreased their target price 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. Finally, Northland Securities cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Talkspace has an average rating of “Hold” and a consensus target price of $5.56.

Talkspace Price Performance

The stock’s fifty day simple moving average is $5.08 and its 200-day simple moving average is $4.06. The company has a market capitalization of $871.05 million, a P/E ratio of 104.02 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. The company had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $61.91 million. On average, research analysts predict that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Talkspace

Several hedge funds have recently made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Talkspace in the first quarter valued at about $259,000. Hsbc Holdings PLC bought a new stake in shares of Talkspace in the first quarter valued at about $1,703,000. Granite Investment Partners LLC lifted its stake in shares of Talkspace by 61.1% in the first quarter. Granite Investment Partners LLC now owns 23,027 shares of the company’s stock valued at $119,000 after buying an additional 8,733 shares during the period. Credit Industriel ET Commercial bought a new stake in shares of Talkspace in the first quarter valued at about $2,252,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Talkspace in the first quarter valued at about $131,000. 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.