Talkspace (NASDAQ:TALK) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Talkspace (NASDAQ:TALK) posted its quarterly earnings results on Monday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06), FiscalAI reports. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. The business had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.80 million.

Talkspace Stock Performance

Shares of TALK remained flat at $5.19 during mid-day trading on Monday. 1,901,715 shares of the stock were exchanged, compared to its average volume of 3,315,171. The stock has a market cap of $869.39 million, a price-to-earnings ratio of 103.82 and a beta of 1.07. The firm has a 50-day moving average of $5.11 and a two-hundred day moving average of $4.11. Talkspace has a 12 month low of $2.22 and a 12 month high of $5.20.

Institutional Trading of Talkspace

Hedge funds have recently made changes to their positions in the company. CIBC Asset Management Inc purchased a new stake in shares of Talkspace during the fourth quarter valued at approximately $72,000. nVerses Capital LLC purchased a new stake in shares of Talkspace during the fourth quarter valued at approximately $66,000. Strs Ohio bought a new stake in shares of Talkspace in the first quarter worth $58,000. Parallel Advisors LLC increased 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 buying an additional 4,000 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Talkspace in the third quarter worth $48,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Analysts Set New Price Targets

TALK has been the topic of several research reports. KeyCorp lowered shares of Talkspace from an “overweight” rating to a “hold” rating in a report on Tuesday, March 10th. Canaccord Genuity Group lowered shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Northland Securities lowered shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Needham & Company LLC lowered shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Wall Street Zen lowered shares of Talkspace from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.56.

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.