Talkspace (NASDAQ:TALK) Stock Rating Upgraded by Wall Street Zen

Talkspace (NASDAQ:TALK) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other research firms also recently weighed in on TALK. Canaccord Genuity Group set a $6.00 target price on shares of Talkspace in a research report on Tuesday, December 30th. KeyCorp upped their price objective on Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group reissued a “buy” rating on shares of Talkspace in a report on Tuesday, December 30th. Barclays assumed coverage on Talkspace in a research report on Monday, December 8th. They issued an “equal weight” rating and a $3.50 target price for the company. Finally, Zacks Research raised Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.88.

Talkspace Price Performance

Shares of Talkspace stock opened at $4.02 on Friday. The firm has a market cap of $665.95 million, a PE ratio of 134.04 and a beta of 1.18. Talkspace has a 1 year low of $2.22 and a 1 year high of $4.36. The stock has a fifty day moving average price of $3.43 and a 200-day moving average price of $2.93.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.02. Talkspace had a net margin of 1.98% and a return on equity of 3.75%. The company had revenue of $59.38 million for the quarter, compared to the consensus estimate of $57.45 million. As a group, equities analysts anticipate that Talkspace will post 0.08 EPS for the current fiscal year.

Institutional Trading of Talkspace

A number of institutional investors have recently added to or reduced their stakes in TALK. Vanguard Group Inc. boosted its stake in Talkspace by 5.4% in the 3rd quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock worth $26,090,000 after purchasing an additional 483,012 shares during the period. American Century Companies Inc. boosted its position in shares of Talkspace by 4.7% in the second quarter. American Century Companies Inc. now owns 6,750,434 shares of the company’s stock valued at $18,766,000 after acquiring an additional 300,476 shares during the period. Geode Capital Management LLC grew its stake in Talkspace by 0.8% during the second quarter. Geode Capital Management LLC now owns 3,172,179 shares of the company’s stock valued at $8,820,000 after acquiring an additional 25,508 shares in the last quarter. CenterBook Partners LP increased its holdings in Talkspace by 114.6% during the 2nd quarter. CenterBook Partners LP now owns 2,478,970 shares of the company’s stock worth $6,892,000 after acquiring an additional 1,323,964 shares during the period. Finally, Royce & Associates LP lifted its stake in Talkspace by 526.9% in the 3rd quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock worth $6,001,000 after purchasing an additional 1,827,459 shares in 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.