Talkspace, Inc. (NASDAQ:TALK) Given Consensus Rating of “Hold” by Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $5.5625.

TALK has been the subject of a number of analyst reports. Needham & Company LLC cut Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Barclays reduced their price target on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research report on Monday, March 9th. KeyCorp cut Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, William Blair cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th.

Talkspace Stock Performance

TALK opened at $5.21 on Tuesday. The stock has a market cap of $872.73 million, a price-to-earnings ratio of 521.52 and a beta of 1.05. Talkspace has a 1 year low of $2.22 and a 1 year high of $5.23. The stock has a fifty day moving average price of $5.19 and a 200 day moving average price of $4.58.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data 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 firm had revenue of $61.68 million for 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%. As a group, sell-side analysts forecast that Talkspace will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Talkspace

In other Talkspace news, insider John Charles Reilly sold 40,289 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $5.20, for a total value of $209,502.80. Following the completion of the sale, the insider owned 1,017,686 shares of the company’s stock, valued at $5,291,967.20. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Talkspace

A number of institutional investors have recently made changes to their positions in the business. Carmignac Gestion bought a new position in shares of Talkspace in the first quarter worth about $759,000. Verus Capital Partners LLC bought a new position in shares of Talkspace in the first quarter worth about $83,000. Groupe la Francaise bought a new position in shares of Talkspace in the first quarter worth about $3,378,000. Bank of America Corp DE increased its stake in shares of Talkspace by 63.2% in the first quarter. Bank of America Corp DE now owns 235,250 shares of the company’s stock worth $1,217,000 after purchasing an additional 91,097 shares during the period. Finally, Janus Henderson Group PLC bought a new position in shares of Talkspace in the first quarter worth about $1,553,000. 57.37% of the stock is currently 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.