Talkspace (NASDAQ:TALK) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Talkspace (NASDAQ:TALK) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday.

TALK has been the subject of several other reports. Needham & Company LLC raised their price objective on shares of Talkspace from $5.00 to $6.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Barclays initiated coverage on Talkspace in a research note on Monday, December 8th. They set an “equal weight” rating and a $3.50 target price on the stock. UBS Group restated a “buy” rating on shares of Talkspace in a research note on Tuesday, December 30th. KeyCorp lifted their target price on Talkspace from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th. Finally, Zacks Research raised shares of Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $5.13.

Talkspace Trading Up 2.3%

TALK stock opened at $4.93 on Friday. The stock has a 50-day moving average price of $4.00 and a two-hundred day moving average price of $3.32. Talkspace has a 1 year low of $2.22 and a 1 year high of $5.18. The stock has a market cap of $816.70 million, a PE ratio of 98.62 and a beta of 1.17.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Talkspace had a net margin of 3.40% and a return on equity of 6.97%. The firm had revenue of $63.00 million for the quarter, compared to analyst estimates of $61.91 million. On average, analysts forecast that Talkspace will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of Talkspace

A number of hedge funds and other institutional investors have recently bought and sold shares of TALK. Mak Capital One LLC purchased a new stake in Talkspace in the 4th quarter valued at $8,042,000. Stoic Point Capital Management LLC bought a new stake in shares of Talkspace in the 4th quarter worth $7,554,000. Royce & Associates LP raised its holdings in shares of 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 purchasing an additional 1,827,459 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of Talkspace by 114.6% in the second quarter. CenterBook Partners LP now owns 2,478,970 shares of the company’s stock valued at $6,892,000 after purchasing an additional 1,323,964 shares during the last quarter. Finally, Metavasi Capital LP lifted its position 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.

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.