Talkspace (NASDAQ:TALK) Shares Gap Up – What’s Next?

Talkspace, Inc. (NASDAQ:TALK)’s share price gapped up before the market opened on Monday . The stock had previously closed at $4.76, but opened at $5.15. Talkspace shares last traded at $5.14, with a volume of 14,183,475 shares.

Analysts Set New Price Targets

TALK has been the subject of a number of recent analyst reports. Wall Street Zen lowered Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday. KeyCorp upped their target price on Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a report on Thursday, January 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Canaccord Genuity Group set a $6.00 price objective on shares of Talkspace in a research report on Tuesday, December 30th. Finally, Barclays began coverage on shares of Talkspace in a report on Monday, December 8th. They issued an “equal weight” rating and a $3.50 price objective for the company. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Talkspace currently has an average rating of “Moderate Buy” and an average price target of $5.13.

Talkspace Price Performance

The company has a market capitalization of $849.82 million, a PE ratio of 102.62 and a beta of 1.18. The company has a 50 day moving average of $4.09 and a two-hundred day moving average of $3.38.

Talkspace (NASDAQ:TALK) last released its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $61.91 million. On average, equities analysts anticipate that Talkspace, Inc. will post 0.08 EPS for the current year.

Institutional Trading of Talkspace

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after buying an additional 3,924 shares during the last quarter. Parallel Advisors LLC grew its stake in shares of Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after acquiring an additional 4,000 shares during the last quarter. Summit Global Investments raised its position in shares of Talkspace by 2.7% in the 2nd 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 boosted its stake in Talkspace by 11.9% in the 4th 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 in the last quarter. Finally, Invesco Ltd. increased its stake in Talkspace by 10.1% during the 4th quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock valued at $319,000 after purchasing an additional 8,015 shares in the last quarter. 57.37% of the stock is owned by institutional investors.

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.