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

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average rating of “Hold” by the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $5.5625.

Several brokerages recently issued reports on TALK. Needham & Company LLC lowered shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Wall Street Zen downgraded shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Canaccord Genuity Group downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. William Blair downgraded shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Barclays reduced their price objective on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research note on Monday, March 9th.

Institutional Investors Weigh In On Talkspace

A number of institutional investors have recently added to or reduced their stakes in TALK. State of Alaska Department of Revenue bought a new stake in Talkspace during the third quarter valued at about $25,000. Cerity Partners LLC bought a new stake in Talkspace during the second quarter valued at about $28,000. Xponance Inc. bought a new stake in Talkspace during the third quarter valued at about $31,000. Nierenberg Investment Management Company Inc. bought a new stake in Talkspace during the third quarter valued at about $32,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Talkspace during the third quarter valued at about $35,000. Institutional investors own 57.37% of the company’s stock.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $5.19 on Monday. The firm has a market cap of $869.38 million, a PE ratio of 103.82 and a beta of 1.07. The firm’s 50 day simple moving average is $5.08 and its 200-day simple moving average is $4.06. Talkspace has a one year low of $2.22 and a one year high of $5.20.

Talkspace (NASDAQ:TALK) last issued its earnings results on Thursday, February 19th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $63.00 million for the quarter, compared to analyst estimates of $61.91 million. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. Equities research analysts predict that Talkspace will post 0.13 EPS for the current fiscal year.

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.