Talkspace (NASDAQ:TALK) Stock Price Up 4.3% – Here’s What Happened

by · The Cerbat Gem

Shares of Talkspace, Inc. (NASDAQ:TALK – Get Free Report) rose 4.3% during mid-day trading on Friday . The company traded as high as $3.54 and last traded at $3.5150. Approximately 581,654 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 1,695,164 shares. The stock had previously closed at $3.37.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TALK. Zacks Research upgraded Talkspace from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Canaccord Genuity Group raised their target price on Talkspace from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Needham & Company LLC restated a “buy” rating and set a $5.00 price target on shares of Talkspace in a research report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talkspace in a research report on Monday. Finally, Barclays began coverage on shares of Talkspace in a research note on Monday. They set an “equal weight” rating and a $3.50 price target for the company. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $4.83.

Check Out Our Latest Analysis on Talkspace

Talkspace Trading Up 4.9%

The stock has a 50 day simple moving average of $3.09 and a 200 day simple moving average of $2.84. The firm has a market capitalization of $585.61 million, a PE ratio of 117.87 and a beta of 1.20.

Talkspace (NASDAQ:TALK – Get Free Report) last posted its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $59.38 million for the quarter, compared to analysts’ expectations of $57.45 million. Talkspace had a return on equity of 3.75% and a net margin of 1.98%. As a group, equities analysts anticipate that Talkspace, Inc. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Talkspace

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

About Talkspace

(Get Free Report)

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.

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