Talkspace (NASDAQ:TALK) Raised to Strong-Buy at Wall Street Zen

Talkspace (NASDAQ:TALK) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

TALK has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talkspace in a research note on Monday, December 29th. Canaccord Genuity Group set a $6.00 price target on shares of Talkspace in a report on Tuesday, December 30th. KeyCorp lifted their price objective on shares of Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. UBS Group reiterated a “buy” rating on shares of Talkspace in a research report on Tuesday, December 30th. Finally, Barclays started coverage on Talkspace in a research report on Monday, December 8th. They set an “equal weight” rating and a $3.50 target price on the stock. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $5.13.

Talkspace Stock Performance

NASDAQ:TALK opened at $4.82 on Friday. The firm’s fifty day moving average is $3.97 and its two-hundred day moving average is $3.30. The firm has a market cap of $798.48 million, a price-to-earnings ratio of 96.42 and a beta of 1.17. Talkspace has a one year low of $2.22 and a one year high of $5.18.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Talkspace had a return on equity of 6.97% and a net margin of 3.40%.The business had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $61.91 million. As a group, equities research analysts predict that Talkspace will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TALK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in 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 buying an additional 3,924 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after acquiring an additional 4,000 shares during the last quarter. Summit Global Investments increased its position in shares of Talkspace by 2.7% during the second quarter. Summit Global Investments now owns 168,082 shares of the company’s stock worth $467,000 after purchasing an additional 4,367 shares in the last quarter. Intech Investment Management LLC increased its position in shares of Talkspace by 11.9% during the fourth 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. raised its stake in Talkspace by 10.1% in the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after purchasing an additional 8,015 shares during the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.