Analysts Set Talkspace, Inc. (NASDAQ:TALK) Price Target at $5.56

Shares of Talkspace, Inc. (NASDAQ:TALK) have earned a consensus recommendation of “Hold” from the nine brokerages that are covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $5.5625.

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Talkspace in a research report on Monday, December 29th. UBS Group restated a “buy” rating on shares of Talkspace in a research report on Tuesday, December 30th. Northland Securities lowered shares of Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Needham & Company LLC lowered shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Barclays cut their price objective on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a research report on Monday, March 9th.

Institutional Investors Weigh In On Talkspace

Several hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd lifted its position in Talkspace by 254.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 23,982 shares of the company’s stock valued at $87,000 after purchasing an additional 17,225 shares during the last quarter. Invesco Ltd. lifted its position in Talkspace by 10.1% during the fourth 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. Beartown Capital Management LLC bought a new stake in Talkspace during the fourth quarter valued at approximately $1,089,000. XTX Topco Ltd lifted its position in Talkspace by 121.1% during the fourth quarter. XTX Topco Ltd now owns 132,409 shares of the company’s stock valued at $481,000 after purchasing an additional 72,512 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in Talkspace during the fourth quarter valued at approximately $66,000. 57.37% of the stock is currently owned by institutional investors.

Talkspace Stock Performance

TALK stock opened at $5.17 on Thursday. The firm has a 50 day moving average of $4.80 and a 200-day moving average of $3.87. Talkspace has a 12 month low of $2.22 and a 12 month high of $5.20. The firm has a market capitalization of $863.80 million, a P/E ratio of 103.42 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. The company had revenue of $63.00 million during the quarter, compared to analyst estimates of $61.91 million. Sell-side analysts predict that Talkspace will post 0.08 EPS for the current year.

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.