Talkspace (NASDAQ:TALK) Hits New 52-Week High – Time to Buy?
by Danessa Lincoln · The Markets DailyShares of Talkspace, Inc. (NASDAQ:TALK – Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $5.19 and last traded at $5.1850, with a volume of 1474642 shares. The stock had previously closed at $5.18.
Analyst Ratings Changes
TALK has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Talkspace in a research report on Monday, December 29th. Needham & Company LLC downgraded Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. Barclays reduced their target price on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a report on Monday, March 9th. Northland Securities cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Wall Street Zen lowered shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. One research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $5.56.
Read Our Latest Report on Talkspace
Talkspace Price Performance
The firm has a market cap of $862.95 million, a P/E ratio of 103.32 and a beta of 1.14. The stock’s 50 day moving average is $4.66 and its two-hundred day moving average is $3.77.
Talkspace (NASDAQ:TALK – Get Free Report) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Talkspace had a return on equity of 6.89% and a net margin of 3.40%.The company had revenue of $63.00 million during the quarter, compared to analysts’ expectations of $61.91 million. As a group, research analysts forecast that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.
Institutional Trading of Talkspace
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP grew its stake in Talkspace by 526.9% in the third quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock valued at $6,001,000 after acquiring an additional 1,827,459 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Talkspace by 18.1% during the 3rd quarter. First Eagle Investment Management LLC now owns 1,890,630 shares of the company’s stock valued at $5,218,000 after purchasing an additional 289,500 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Talkspace during the 4th quarter valued at about $450,000. Metavasi Capital LP grew its position in shares of Talkspace by 15.8% in the 2nd quarter. Metavasi Capital LP now owns 1,318,577 shares of the company’s stock valued at $3,666,000 after purchasing an additional 179,478 shares during the period. Finally, Jump Financial LLC bought a new stake in Talkspace during the 4th quarter worth approximately $41,000. 57.37% of the stock is owned by 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.