Talkspace, Inc. (NASDAQ:TALK) Receives Average Recommendation of “Hold” from Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average recommendation of “Hold” by the nine analysts that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $5.5625.

A number of research analysts have issued reports on the company. Barclays reduced their price objective on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research note on Monday, March 9th. Weiss Ratings downgraded Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Northland Securities downgraded Talkspace from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Canaccord Genuity Group downgraded Talkspace from a “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.

Talkspace Trading Down 0.2%

Shares of Talkspace stock opened at $5.22 on Friday. The stock has a fifty day simple moving average of $5.18 and a 200 day simple moving average of $4.37. Talkspace has a 12-month low of $2.22 and a 12-month high of $5.23. The company has a market capitalization of $874.40 million, a P/E ratio of 522.52 and a beta of 1.05.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.04) earnings per share (EPS) 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 company had revenue of $61.68 million for the quarter, compared to the consensus estimate of $63.32 million. On average, analysts predict that Talkspace will post 0.13 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Talkspace by 25.8% during 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 in the last quarter. Royal Bank of Canada lifted its holdings in Talkspace by 102.1% during the 1st quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after purchasing an additional 4,138 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Talkspace by 11.9% during the 4th quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after purchasing an additional 5,277 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after purchasing an additional 8,015 shares in the last quarter. Hedge funds and other 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.