Talkspace, Inc. (NASDAQ:TALK) Given Average Recommendation of “Hold” by Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given a consensus recommendation of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.5625.

A number of brokerages have weighed in on TALK. Canaccord Genuity Group cut Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. KeyCorp cut Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. Barclays reduced their price objective on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Weiss Ratings cut Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th.

Institutional Investors Weigh In On Talkspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cerity Partners LLC purchased a new stake in Talkspace in the second quarter valued at approximately $28,000. Xponance Inc. purchased a new stake in shares of Talkspace during the third quarter worth approximately $31,000. Nierenberg Investment Management Company Inc. purchased a new stake in shares of Talkspace during the third quarter worth approximately $32,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Talkspace during the third quarter worth approximately $35,000. Finally, Neuberger Berman Group LLC purchased a new stake in shares of Talkspace during the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Stock Down 0.2%

Shares of TALK opened at $5.20 on Friday. The stock has a 50 day moving average price of $5.18 and a 200 day moving average price of $4.41. The company has a market capitalization of $871.05 million, a price-to-earnings ratio of 520.52 and a beta of 1.05. Talkspace has a 52-week low of $2.22 and a 52-week high of $5.23.

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

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.