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

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned a consensus recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat.com 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 1 year price objective among brokers that have issued a report on the stock in the last year is $5.1250.

A number of analysts recently issued reports on TALK shares. UBS Group reaffirmed a “buy” rating on shares of Talkspace in a research report on Tuesday, December 30th. Zacks Research raised Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Talkspace in a research note on Monday, December 29th. Wall Street Zen raised shares of Talkspace from a “hold” rating to a “buy” rating in a research note on Saturday, January 10th. Finally, KeyCorp boosted their target price on shares of Talkspace from $4.00 to $5.00 and gave the stock an “overweight” rating in a report on Thursday, January 8th.

Institutional Investors Weigh In On Talkspace

Several hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in Talkspace during the third quarter worth approximately $25,000. Cerity Partners LLC bought a new position in shares of Talkspace during the 2nd quarter worth approximately $28,000. Neuberger Berman Group LLC acquired a new position in shares of Talkspace during the 2nd quarter worth approximately $29,000. Xponance Inc. bought a new stake in Talkspace in the 3rd quarter valued at $31,000. Finally, Nierenberg Investment Management Company Inc. bought a new stake in Talkspace in the 3rd quarter valued at $32,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Talkspace Stock Down 2.4%

Shares of TALK stock opened at $4.51 on Wednesday. Talkspace has a 12 month low of $2.22 and a 12 month high of $5.18. The company’s fifty day simple moving average is $3.90 and its 200-day simple moving average is $3.26. The firm has a market cap of $747.13 million, a PE ratio of 90.22 and a beta of 1.20.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Talkspace had a net margin of 3.40% and a return on equity of 6.97%. The firm had revenue of $63.00 million for the quarter, compared to analyst estimates of $61.91 million. On average, equities analysts predict that Talkspace will post 0.08 earnings per share for the current fiscal year.

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.