Talkspace (NASDAQ:TALK) Hits New 1-Year High – Here’s What Happened

Shares of Talkspace, Inc. (NASDAQ:TALK) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $5.20 and last traded at $5.19, with a volume of 68905 shares changing hands. The stock had previously closed at $5.20.

Wall Street Analyst Weigh In

TALK has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Talkspace from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Northland Securities cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings cut shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. William Blair cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Barclays lowered their price target on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $5.56.

Talkspace Stock Performance

The stock has a market capitalization of $870.21 million, a P/E ratio of 520.02 and a beta of 1.07. The company’s fifty day simple moving average is $5.18 and its two-hundred day simple moving average is $4.33.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares in the last quarter. Parallel Advisors LLC grew its position in shares of Talkspace by 25.8% during the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after purchasing an additional 4,000 shares in the last quarter. Royal Bank of Canada grew its position in shares of Talkspace by 102.1% during the 1st quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after purchasing an additional 4,138 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Talkspace by 11.9% during the 4th quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after purchasing an additional 5,277 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after purchasing an additional 8,015 shares in the last quarter. Institutional investors and hedge funds 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.