Talkspace, Inc. (NASDAQ:TALK) Receives $4.88 Consensus Target Price from Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.8750.

Several equities research analysts have weighed in on TALK shares. Needham & Company LLC reissued a “buy” rating and set a $5.00 price target on shares of Talkspace in a research report on Tuesday, December 2nd. UBS Group restated a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Barclays assumed coverage on Talkspace in a research report on Monday, December 8th. They set an “equal weight” rating and a $3.50 price target for the company. KeyCorp lifted their price objective on Talkspace from $4.00 to $5.00 and gave the stock an “overweight” rating in a research report on Thursday, January 8th. Finally, Wall Street Zen upgraded Talkspace from a “hold” rating to a “buy” rating in a report on Saturday, January 10th.

Talkspace Price Performance

TALK opened at $4.04 on Friday. The firm has a market capitalization of $669.25 million, a P/E ratio of 134.71 and a beta of 1.18. Talkspace has a one year low of $2.22 and a one year high of $4.36. The company has a fifty day moving average price of $3.63 and a 200-day moving average price of $3.06.

Talkspace (NASDAQ:TALK) last released its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $59.38 million during the quarter, compared to the consensus estimate of $57.45 million. Talkspace had a return on equity of 3.75% and a net margin of 1.98%. On average, analysts expect that Talkspace will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Talkspace

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Talkspace by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after purchasing an additional 3,924 shares during the last quarter. Parallel Advisors LLC grew its position in Talkspace by 25.8% in the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after purchasing an additional 4,000 shares during the period. Summit Global Investments raised its stake in Talkspace by 2.7% during the 2nd quarter. Summit Global Investments now owns 168,082 shares of the company’s stock valued at $467,000 after buying an additional 4,367 shares during the last quarter. Rhumbline Advisers raised its stake in Talkspace by 5.3% during the 3rd quarter. Rhumbline Advisers now owns 180,645 shares of the company’s stock valued at $499,000 after buying an additional 9,168 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new position in shares of Talkspace during the 3rd quarter valued at $25,000. 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.