Talkspace (NASDAQ:TALK) Cut to Strong Sell at Zacks Research

Key Points

• Talkspace has been downgraded from a "hold" to a "strong sell" rating by Zacks Research, indicating negative sentiment towards the stock.
• Despite having two analysts rating it as a Strong Buy, the overall consensus rating is "Moderate Buy"** with an average price target of $4.50.
• Recently, multiple institutional investors have acquired shares in Talkspace, with 57.37% of the stock now owned by hedge funds and institutional investors.

Talkspace (NASDAQ:TALK - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report released on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of Talkspace in a research report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $4.50.

Talkspace Stock Performance

TALK opened at $2.73 on Monday. The company's 50 day simple moving average is $2.60 and its 200 day simple moving average is $2.76. Talkspace has a 1 year low of $2.22 and a 1 year high of $4.36. The stock has a market capitalization of $457.19 million, a PE ratio of 136.57 and a beta of 1.12.

Talkspace (NASDAQ:TALK - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.00 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.01). Talkspace had a return on equity of 2.48% and a net margin of 1.41%.The company had revenue of $54.31 million during the quarter, compared to analyst estimates of $54.08 million. Talkspace has set its FY 2025 guidance at EPS. As a group, sell-side analysts expect that Talkspace will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TALK. Cerity Partners LLC acquired a new position in Talkspace during the second quarter valued at approximately $28,000. Neuberger Berman Group LLC acquired a new position in Talkspace during the second quarter valued at approximately $29,000. Integrity Alliance LLC. purchased a new stake in shares of Talkspace during the first quarter valued at approximately $35,000. Engineers Gate Manager LP purchased a new stake in shares of Talkspace during the second quarter valued at approximately $39,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Talkspace during the second quarter valued at approximately $41,000. 57.37% of the stock is owned by institutional investors and hedge funds.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.

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