Talkspace (NASDAQ:TALK) Sets New 12-Month High – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $5.20 and last traded at $5.1950, with a volume of 35309 shares changing hands. The stock had previously closed at $5.20.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TALK shares. Northland Securities cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Canaccord Genuity Group cut shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Weiss Ratings cut shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Wall Street Zen cut shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, KeyCorp cut shares of Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.56.

Talkspace Stock Performance

The firm has a market cap of $871.05 million, a P/E ratio of 104.02 and a beta of 1.07. The firm’s fifty day moving average price is $5.17 and its 200 day moving average price is $4.25.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The business had revenue of $61.68 million during the quarter, compared to the consensus estimate of $63.32 million. As a group, analysts expect that Talkspace, Inc. will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Several large investors have recently modified their holdings of TALK. Polar Asset Management Partners Inc. bought a new position in shares of Talkspace during the 1st quarter worth approximately $15,536,000. Mak Capital One LLC bought a new position in shares of Talkspace during the 4th quarter worth approximately $8,042,000. Stoic Point Capital Management LLC bought a new position in shares of Talkspace during the 4th quarter worth approximately $7,554,000. Royce & Associates LP raised its stake in shares of Talkspace by 526.9% during the 3rd quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock worth $6,001,000 after acquiring an additional 1,827,459 shares in the last quarter. Finally, Metavasi Capital LP raised its stake in shares of Talkspace by 77.3% during the 4th quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock worth $9,818,000 after acquiring an additional 1,179,156 shares in the last quarter. 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.