Talkspace, Inc. (NASDAQ:TALK) Receives $4.88 Average Target Price from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $4.8750.

TALK has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Wall Street Zen raised shares of Talkspace from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. KeyCorp boosted their price objective on shares of Talkspace from $4.00 to $5.00 and gave the stock an “overweight” rating in a research note on Thursday, January 8th. UBS Group reaffirmed a “buy” rating on shares of Talkspace in a research note on Tuesday, December 30th. Finally, Zacks Research upgraded shares of Talkspace from a “strong sell” rating to a “hold” rating in a report on Friday, October 31st.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $4.06 on Friday. Talkspace has a 52-week low of $2.22 and a 52-week high of $4.36. The firm has a market capitalization of $672.58 million, a P/E ratio of 135.38 and a beta of 1.18. The stock has a 50 day moving average price of $3.56 and a 200-day moving average price of $3.02.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $59.38 million for the quarter, compared to analyst estimates of $57.45 million. Talkspace had a return on equity of 3.75% and a net margin of 1.98%. On average, equities analysts forecast that Talkspace will post 0.08 EPS for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Several hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue purchased a new stake in shares of Talkspace during the 3rd quarter valued at about $25,000. Cerity Partners LLC purchased a new stake in Talkspace in the second quarter worth approximately $28,000. Neuberger Berman Group LLC bought a new stake in Talkspace in the 2nd quarter worth approximately $29,000. Xponance Inc. bought a new stake in Talkspace in the 3rd quarter worth approximately $31,000. Finally, Nierenberg Investment Management Company Inc. purchased a new stake in Talkspace during the 3rd quarter valued at $32,000. 57.37% of the stock is owned by institutional investors.

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.