Talkspace (NASDAQ:TALK) Upgraded by Wall Street Zen to Strong-Buy Rating

Wall Street Zen upgraded shares of Talkspace (NASDAQ:TALK) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday morning.

Other research analysts have also recently issued research reports about the company. Weiss Ratings restated a “hold (c-)” rating on shares of Talkspace in a research report on Monday, December 29th. UBS Group reiterated a “buy” rating on shares of Talkspace in a research note on Tuesday, December 30th. Barclays assumed coverage on shares of Talkspace in a report on Monday, December 8th. They issued an “equal weight” rating and a $3.50 target price on the stock. KeyCorp boosted their target price on shares of Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Finally, Canaccord Genuity Group set a $6.00 price target on shares of Talkspace in a research report on Tuesday, December 30th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $5.13.

Talkspace Trading Up 0.4%

NASDAQ TALK opened at $4.82 on Friday. The company has a market cap of $798.48 million, a price-to-earnings ratio of 96.42 and a beta of 1.20. The company has a 50 day moving average of $3.97 and a 200-day moving average of $3.30. Talkspace has a 1-year low of $2.22 and a 1-year high of $5.18.

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, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $63.00 million for the quarter, compared to the consensus estimate of $61.91 million. Talkspace had a return on equity of 6.97% and a net margin of 3.40%. On average, equities research analysts forecast that Talkspace will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On Talkspace

Several hedge funds have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after acquiring an additional 3,924 shares during the last quarter. Parallel Advisors LLC boosted its stake in shares of Talkspace by 25.8% during the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after purchasing an additional 4,000 shares in the last quarter. Summit Global Investments grew its holdings in shares of Talkspace by 2.7% during the second quarter. Summit Global Investments now owns 168,082 shares of the company’s stock worth $467,000 after purchasing an additional 4,367 shares during the last quarter. Intech Investment Management LLC grew its holdings in shares of Talkspace by 11.9% during the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after purchasing an additional 5,277 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Talkspace by 10.1% in the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after buying an additional 8,015 shares during the period. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.