Talkspace (NASDAQ:TALK) Sets New 1-Year High – Time to Buy?
by Teresa Graham · The Cerbat GemShares of Talkspace, Inc. (NASDAQ:TALK – Get Free Report) reached a new 52-week high on Monday . The company traded as high as $5.20 and last traded at $5.1950, with a volume of 35309 shares changing hands. The stock had previously closed at $5.20.
Analyst Ratings Changes
TALK has been the subject of a number of analyst reports. KeyCorp cut shares of Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. Barclays cut their price target on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a report on Monday, March 9th. Canaccord Genuity Group cut Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. Weiss Ratings cut Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Talkspace presently has a consensus rating of “Hold” and a consensus target price of $5.56.
Check Out Our Latest Analysis on Talkspace
Talkspace Trading Down 0.1%
The business has a fifty day moving average of $5.15 and a two-hundred day moving average of $4.21. The company has a market cap of $870.21 million, a price-to-earnings ratio of 103.92 and a beta of 1.07.
Talkspace (NASDAQ:TALK – Get Free Report) last issued its quarterly earnings results 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 during the quarter, compared to analyst estimates of $63.32 million. Talkspace had a return on equity of 1.03% and a net margin of 0.49%. On average, research analysts forecast that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.
Institutional Investors Weigh In On Talkspace
Several institutional investors and hedge funds have recently modified their holdings of TALK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares during the period. Parallel Advisors LLC grew its stake in Talkspace by 25.8% during the 3rd 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. Intech Investment Management LLC grew its holdings in shares of Talkspace by 11.9% during the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after buying an additional 5,277 shares during the last quarter. Invesco Ltd. grew its stake in shares of Talkspace by 10.1% in the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after purchasing an additional 8,015 shares during the last quarter. Finally, Granite Investment Partners LLC grew its stake in shares of Talkspace by 61.1% in the 1st quarter. Granite Investment Partners LLC now owns 23,027 shares of the company’s stock valued at $119,000 after purchasing an additional 8,733 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.
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.