Talkspace, Inc. (NASDAQ:TALK) Given Average Recommendation of “Hold” by Brokerages

Talkspace, Inc. (NASDAQ:TALK) has earned an average rating of “Hold” from the nine analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $5.5625.

A number of research analysts 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. Wall Street Zen downgraded shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Barclays decreased their price target on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Canaccord Genuity Group downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Needham & Company LLC downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th.

Insiders Place Their Bets

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 sale, the insider directly owned 1,057,975 shares in the company, valued at $5,512,049.75. This trade represents a 4.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 23.50% of the company’s stock.

Hedge Funds Weigh In On Talkspace

Several institutional investors have recently bought and sold shares of TALK. Cerity Partners LLC purchased a new position in shares of Talkspace in the 2nd quarter worth $28,000. Xponance Inc. purchased a new position in shares of Talkspace in the 3rd quarter worth $31,000. Nierenberg Investment Management Company Inc. purchased a new position in shares of Talkspace in the 3rd quarter worth $32,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Talkspace in the 3rd quarter worth $35,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Talkspace in the 4th quarter worth $38,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

Talkspace Stock Performance

Shares of TALK opened at $5.22 on Tuesday. The stock has a market cap of $874.40 million, a PE ratio of 522.52 and a beta of 1.05. Talkspace has a fifty-two week low of $2.22 and a fifty-two week high of $5.23. The firm’s 50-day simple moving average is $5.20 and its two-hundred day simple moving average is $4.62.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Talkspace had a return on equity of 1.03% and a net margin of 0.49%.The business had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.32 million. Equities research analysts predict that Talkspace will post 0.13 EPS for the current 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.