Talkspace (NASDAQ:TALK) Shares Gap Up – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $4.76, but opened at $5.15. Talkspace shares last traded at $5.14, with a volume of 14,183,475 shares changing hands.

Analysts Set New Price Targets

Several research firms recently issued reports on TALK. Barclays began coverage on Talkspace in a research report on Monday, December 8th. They issued an “equal weight” rating and a $3.50 price objective on the stock. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talkspace in a research report on Monday, December 29th. Needham & Company LLC lifted their price objective on Talkspace from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. KeyCorp upped their target price on shares of Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Thursday, January 8th. Finally, UBS Group reaffirmed a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.13.

Talkspace Price Performance

The business has a 50-day moving average of $4.09 and a 200 day moving average of $3.38. The company has a market cap of $849.82 million, a PE ratio of 102.62 and a beta of 1.18.

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

Institutional Investors Weigh In On Talkspace

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in Talkspace during the third quarter valued at $25,000. Cerity Partners LLC bought a new position in shares of Talkspace in the second quarter worth about $28,000. Neuberger Berman Group LLC purchased a new position in shares of Talkspace during the 2nd quarter valued at about $29,000. Xponance Inc. bought a new position in shares of Talkspace during the 3rd quarter valued at approximately $31,000. Finally, Nierenberg Investment Management Company Inc. purchased a new stake in Talkspace in the 3rd quarter worth approximately $32,000. 57.37% of the stock is currently 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.