Talkspace (NASDAQ:TALK) Hits New 1-Year High – Still a Buy?

Shares of Talkspace, Inc. (NASDAQ:TALK) hit a new 52-week high on Monday . The stock traded as high as $5.20 and last traded at $5.1850, with a volume of 59161 shares trading hands. The stock had previously closed at $5.19.

Analyst Ratings Changes

Several brokerages recently weighed in on TALK. William Blair downgraded shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Canaccord Genuity Group downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Needham & Company LLC downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. KeyCorp downgraded shares of Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. Finally, Northland Securities downgraded shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.56.

Talkspace Trading Down 0.1%

The stock’s 50-day moving average is $5.11 and its 200-day moving average is $4.11. The stock has a market cap of $868.54 million, a price-to-earnings ratio of 103.72 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last posted 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. The firm had revenue of $63.00 million during the quarter, compared to the consensus estimate of $61.91 million. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. On average, equities analysts predict that Talkspace, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Trading of Talkspace

A number of institutional investors and hedge funds have recently bought and sold shares of TALK. AQR Capital Management LLC increased its position in Talkspace by 963.3% during the 1st quarter. AQR Capital Management LLC now owns 464,599 shares of the company’s stock worth $1,189,000 after purchasing an additional 420,906 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after acquiring an additional 3,924 shares during the period. Strs Ohio purchased a new position in Talkspace in the 1st quarter worth approximately $58,000. Creative Planning boosted its holdings in Talkspace by 24.4% in the 2nd quarter. Creative Planning now owns 80,904 shares of the company’s stock worth $225,000 after acquiring an additional 15,881 shares during the period. Finally, Rhumbline Advisers boosted its holdings in Talkspace by 15.9% in the 2nd quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock worth $477,000 after acquiring an additional 23,497 shares during the period. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.