Talkspace (NASDAQ:TALK) Trading Down 9.5% – What’s Next?
by Sarita Garza · The Markets DailyTalkspace, Inc. (NASDAQ:TALK – Get Free Report)’s stock price traded down 9.5% during trading on Monday . The company traded as low as $4.52 and last traded at $4.5150. 753,750 shares were traded during trading, a decline of 56% from the average session volume of 1,701,044 shares. The stock had previously closed at $4.99.
Analyst Ratings Changes
A number of brokerages have recently weighed in on TALK. Weiss Ratings reiterated a “hold (c-)” rating on shares of Talkspace in a report on Monday, December 29th. Needham & Company LLC increased their target price on shares of Talkspace from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Wall Street Zen upgraded shares of Talkspace from a “hold” rating to a “buy” rating in a research report on Saturday, January 10th. 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 target for the company. Finally, Canaccord Genuity Group set a $6.00 price objective on shares of Talkspace in a research report on Tuesday, December 30th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Talkspace currently has a consensus rating of “Moderate Buy” and an average target price of $5.13.
Get Our Latest Research Report on Talkspace
Talkspace Stock Performance
The stock has a market capitalization of $752.10 million, a price-to-earnings ratio of 90.82 and a beta of 1.20. The business’s 50 day simple moving average is $3.92 and its 200-day simple moving average is $3.27.
Talkspace (NASDAQ:TALK – Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. The company had revenue of $63.00 million for the quarter, compared to analysts’ expectations of $61.91 million. Talkspace had a return on equity of 6.97% and a net margin of 3.40%. As a group, sell-side analysts expect that Talkspace, Inc. will post 0.08 EPS for the current year.
Institutional Investors Weigh In On Talkspace
Several institutional investors have recently bought and sold shares of the stock. Bailard Inc. bought a new stake in shares of Talkspace during the 2nd quarter worth about $240,000. American Century Companies Inc. increased its stake in shares of Talkspace by 4.7% during 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. SG Americas Securities LLC increased its stake in shares of Talkspace by 206.4% during the second quarter. SG Americas Securities LLC now owns 159,811 shares of the company’s stock valued at $444,000 after acquiring an additional 107,657 shares during the period. First Eagle Investment Management LLC raised its holdings in Talkspace by 41.5% during the second quarter. First Eagle Investment Management LLC now owns 1,601,130 shares of the company’s stock worth $4,451,000 after purchasing an additional 469,280 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Talkspace in the second quarter worth approximately $83,000. Institutional investors and hedge funds 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.