Talkspace (NASDAQ:TALK) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Talkspace (NASDAQ:TALK – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued reports about the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Talkspace in a research note on Monday, December 29th. Barclays began coverage on shares of Talkspace in a research report on Monday, December 8th. They set an “equal weight” rating and a $3.50 price target on the stock. Canaccord Genuity Group set a $6.00 price target on shares of Talkspace in a research note on Tuesday, December 30th. Zacks Research upgraded shares of Talkspace from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Finally, UBS Group restated a “buy” rating 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.88.

Get Our Latest Stock Analysis on Talkspace

Talkspace Trading Down 0.7%

Shares of NASDAQ TALK opened at $3.99 on Friday. Talkspace has a 12-month low of $2.22 and a 12-month high of $4.36. The company has a market cap of $660.98 million, a PE ratio of 133.04 and a beta of 1.18. The stock has a 50 day simple moving average of $3.45 and a 200-day simple moving average of $2.94.

Talkspace (NASDAQ:TALK – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. Talkspace had a return on equity of 3.75% and a net margin of 1.98%.The firm had revenue of $59.38 million for the quarter, compared to the consensus estimate of $57.45 million. Sell-side analysts forecast that Talkspace will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Several large investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Talkspace by 2.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock worth $364,000 after purchasing an additional 3,924 shares during the period. Parallel Advisors LLC raised its holdings 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 acquiring an additional 4,000 shares during the period. Summit Global Investments lifted 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 valued at $467,000 after acquiring an additional 4,367 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Talkspace by 5.3% in the 3rd quarter. Rhumbline Advisers now owns 180,645 shares of the company’s stock valued at $499,000 after acquiring an additional 9,168 shares in the last quarter. Finally, State of Alaska Department of Revenue acquired a new position in Talkspace in the 3rd quarter worth approximately $25,000. 57.37% of the stock is owned by institutional investors.

About Talkspace

(Get Free Report)

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.

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