Talkspace (NASDAQ:TALK) Hits New 1-Year High – Should You Buy?

Talkspace, Inc. (NASDAQ:TALK)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $5.24 and last traded at $5.2250, with a volume of 3048495 shares. The stock had previously closed at $5.20.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. KeyCorp downgraded shares of Talkspace from an “overweight” rating to a “hold” rating in a research report on Tuesday, March 10th. Northland Securities lowered Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings downgraded shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $5.56.

Talkspace Stock Performance

The company’s 50 day moving average is $5.20 and its 200 day moving average is $4.72. The firm has a market cap of $874.40 million, a P/E ratio of 522.52 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Talkspace had a net margin of 0.49% and a return on equity of 1.03%. The firm had revenue of $61.68 million for the quarter, compared to analyst estimates of $63.32 million. On average, equities research analysts anticipate that Talkspace, Inc. will post 0.13 EPS for the current year.

Insider Transactions at Talkspace

In other news, insider John Charles Reilly sold 55,144 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $5.21, for a total transaction of $287,300.24. Following the completion of the transaction, the insider owned 1,057,975 shares of the company’s stock, valued at approximately $5,512,049.75. This trade represents a 4.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 23.50% of the company’s stock.

Institutional Investors Weigh In On Talkspace

A number of institutional investors have recently made changes to their positions in TALK. Carmignac Gestion acquired a new position in shares of Talkspace in the first quarter worth approximately $759,000. Verus Capital Partners LLC acquired a new position in shares of Talkspace in the 1st quarter worth approximately $83,000. Groupe la Francaise acquired a new stake in shares of Talkspace during the first quarter worth $3,378,000. Bank of America Corp DE raised its stake in Talkspace by 63.2% during the first quarter. Bank of America Corp DE now owns 235,250 shares of the company’s stock worth $1,217,000 after buying an additional 91,097 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new position in Talkspace in the first quarter valued at $1,553,000. 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.