Talkspace (NASDAQ:TALK) Posts 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 analysts’ consensus estimates of $0.02 by ($0.06), FiscalAI reports. The company had revenue of $61.68 million during the quarter, compared to the consensus estimate of $63.32 million. Talkspace had a return on equity of 6.89% and a net margin of 3.40%.

Talkspace Stock Performance

TALK stock opened at $5.18 on Wednesday. The firm has a market cap of $867.70 million, a price-to-earnings ratio of 103.62 and a beta of 1.07. The firm has a 50-day simple moving average of $5.14 and a two-hundred day simple moving average of $4.16. Talkspace has a one year low of $2.22 and a one year high of $5.20.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TALK shares. Barclays cut their price target on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a report on Monday, March 9th. KeyCorp cut shares of Talkspace from an “overweight” rating to a “hold” rating in a report on Tuesday, March 10th. Northland Securities cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. William Blair cut shares of Talkspace from a “strong-buy” rating to a “hold” rating in a report on Monday, March 9th. Finally, Needham & Company LLC cut shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. One analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Talkspace has an average rating of “Hold” and an average price target of $5.56.

Institutional Trading of Talkspace

Several hedge funds have recently modified their holdings of the company. Invesco Ltd. lifted its position in shares of Talkspace by 10.1% during the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after buying an additional 8,015 shares during the last quarter. Beartown Capital Management LLC purchased a new stake in shares of Talkspace during the fourth quarter valued at about $1,089,000. XTX Topco Ltd lifted its position in shares of Talkspace by 121.1% during the fourth quarter. XTX Topco Ltd now owns 132,409 shares of the company’s stock valued at $481,000 after buying an additional 72,512 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Talkspace during the fourth quarter valued at about $66,000. Finally, Stoic Point Capital Management LLC purchased a new stake in shares of Talkspace during the fourth quarter valued at about $7,554,000. 57.37% of the stock is 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.