Talkspace, Inc. (NASDAQ:TALK) Receives Consensus Rating of “Hold” from Brokerages

Talkspace, Inc. (NASDAQ:TALK) has earned a consensus recommendation of “Hold” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.5625.

Several brokerages recently weighed in on TALK. Needham & Company LLC downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. UBS Group reissued a “buy” rating on shares of Talkspace in a research report on Tuesday, December 30th. Wall Street Zen cut shares of Talkspace from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 8th. Weiss Ratings restated a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Finally, Canaccord Genuity Group cut shares of Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th.

Institutional Investors Weigh In On Talkspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Talkspace by 5.4% in the third quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock worth $26,090,000 after purchasing an additional 483,012 shares during the last quarter. Deutsche Bank AG boosted its holdings in Talkspace by 14.6% in the fourth quarter. Deutsche Bank AG now owns 7,094,525 shares of the company’s stock worth $25,753,000 after purchasing an additional 905,304 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Talkspace by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company’s stock worth $12,395,000 after purchasing an additional 15,436 shares during the last quarter. Royce & Associates LP boosted its holdings in Talkspace by 39.7% in the fourth quarter. Royce & Associates LP now owns 3,036,360 shares of the company’s stock worth $11,022,000 after purchasing an additional 862,098 shares during the last quarter. Finally, Metavasi Capital LP boosted its holdings in Talkspace by 77.3% in the fourth quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock worth $9,818,000 after purchasing an additional 1,179,156 shares during the last quarter. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Price Performance

Shares of TALK opened at $5.16 on Thursday. The company has a market capitalization of $862.13 million, a P/E ratio of 103.22 and a beta of 1.14. The firm has a 50 day moving average of $4.69 and a 200 day moving average of $3.78. Talkspace has a twelve month low of $2.22 and a twelve month high of $5.20.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.01. The company had revenue of $63.00 million during the quarter, compared to the consensus estimate of $61.91 million. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. On average, sell-side analysts expect that Talkspace will post 0.08 EPS for the current 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.