Talkspace (NASDAQ:TALK) Hits New 52-Week High – Here’s Why

Shares of Talkspace, Inc. (NASDAQ:TALK) reached a new 52-week high on Monday . The company traded as high as $5.20 and last traded at $5.1850, with a volume of 59161 shares traded. The stock had previously closed at $5.19.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen lowered shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 8th. Barclays cut their target price on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a research note on Monday, March 9th. KeyCorp lowered shares of Talkspace from an “overweight” rating to a “hold” rating in a research note on Tuesday, March 10th. William Blair lowered shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Finally, Needham & Company LLC lowered shares of Talkspace from a “buy” rating to a “hold” rating in a research note on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Talkspace has an average rating of “Hold” and an average price target of $5.56.

Talkspace Stock Performance

The firm has a market cap of $867.70 million, a price-to-earnings ratio of 103.62 and a beta of 1.07. The firm has a 50-day moving average price of $5.14 and a two-hundred day moving average price of $4.16.

Talkspace (NASDAQ:TALK) last issued its earnings results 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). The business had revenue of $61.68 million for the quarter, compared to analyst estimates of $63.32 million. Talkspace had a return on equity of 6.89% and a net margin of 3.40%. Research analysts anticipate that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Institutional Investors Weigh In On Talkspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Talkspace by 2.8% in the 1st 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 stake in shares of Talkspace by 25.8% in the 3rd quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after purchasing an additional 4,000 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Talkspace by 11.9% in the 4th quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock valued at $180,000 after purchasing an additional 5,277 shares during the last quarter. Invesco Ltd. grew its stake in shares of Talkspace by 10.1% in the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after purchasing an additional 8,015 shares during the last quarter. Finally, Granite Investment Partners LLC grew its stake in shares of Talkspace by 61.1% in the 1st quarter. Granite Investment Partners LLC now owns 23,027 shares of the company’s stock valued at $119,000 after purchasing an additional 8,733 shares during the last quarter. Hedge funds and other 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.