Talkspace (NASDAQ:TALK) Sets New 1-Year High – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.20 and last traded at $5.1950, with a volume of 35309 shares trading hands. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TALK. Wall Street Zen cut shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Northland Securities downgraded Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Needham & Company LLC downgraded Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. William Blair downgraded Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, KeyCorp downgraded Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.56.

Talkspace Trading Down 0.1%

The firm has a market capitalization of $870.21 million, a PE ratio of 103.92 and a beta of 1.07. The business has a 50-day moving average of $5.15 and a 200 day moving average of $4.21.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Talkspace had a return on equity of 1.03% and a net margin of 0.49%.The firm had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.32 million. On average, sell-side analysts expect that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Trading of Talkspace

Hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. purchased a new position in shares of Talkspace during the first quarter valued at approximately $15,536,000. Mak Capital One LLC purchased a new stake in shares of Talkspace in the fourth quarter worth $8,042,000. Stoic Point Capital Management LLC purchased a new stake in shares of Talkspace in the fourth quarter worth $7,554,000. Royce & Associates LP lifted its holdings in shares of Talkspace by 526.9% during the third quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock valued at $6,001,000 after purchasing an additional 1,827,459 shares in the last quarter. Finally, Metavasi Capital LP lifted its holdings in shares of Talkspace by 77.3% during the fourth quarter. Metavasi Capital LP now owns 2,704,577 shares of the company’s stock valued at $9,818,000 after purchasing an additional 1,179,156 shares in the last quarter. Institutional investors own 57.37% of the company’s stock.

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.