Talkspace (NASDAQ:TALK) Issues Earnings Results, Misses Expectations By $0.06 EPS

Talkspace (NASDAQ:TALK) posted its quarterly earnings data on Monday. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06), FiscalAI reports. The company had revenue of $61.68 million for the quarter, compared to analysts’ expectations of $63.80 million. Talkspace had a return on equity of 6.89% and a net margin of 3.40%.

Talkspace Stock Performance

NASDAQ:TALK remained flat at $5.19 during mid-day trading on Monday. The company’s stock had a trading volume of 1,901,509 shares, compared to its average volume of 3,315,169. The stock’s fifty day moving average price is $5.11 and its two-hundred day moving average price is $4.11. Talkspace has a 12-month low of $2.22 and a 12-month high of $5.20. The company has a market cap of $869.39 million, a PE ratio of 103.82 and a beta of 1.07.

Institutional Trading of Talkspace

Hedge funds have recently added to or reduced their stakes in the business. Cerity Partners LLC acquired a new stake in Talkspace in the 2nd quarter worth about $28,000. Neuberger Berman Group LLC acquired a new stake in Talkspace in the 4th quarter worth about $38,000. Vise Technologies Inc. acquired a new stake in Talkspace in the 4th quarter worth about $40,000. Jump Financial LLC acquired a new stake in Talkspace in the 4th quarter worth about $41,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Talkspace in the 3rd quarter worth about $35,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Canaccord Genuity Group cut Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. William Blair cut Talkspace from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen cut Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. KeyCorp cut Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Needham & Company LLC cut Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Talkspace presently has a consensus rating of “Hold” and an average target price of $5.56.

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.