Talkspace (NASDAQ:TALK) Hits New 1-Year High - Still a Buy?

Key Points

• Talkspace stock hit a new 52-week high, trading as high as $5.20 on Monday and last changing hands at $5.1850.
• Recent analyst moves have been mostly cautious, with several firms downgrading the stock to Hold; MarketBeat shows an average rating of Hold and a price target of $5.56.
• The company recently beat quarterly expectations, reporting $0.03 EPS versus $0.02 expected and $63.0 million in revenue versus $61.91 million estimated.

Talkspace, Inc. (NASDAQ:TALK - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $5.20 and last traded at $5.1850, with a volume of 59161 shares trading hands. The stock had previously closed at $5.19.

Analyst Upgrades and Downgrades

TALK has been the topic of several analyst reports. KeyCorp cut shares of Talkspace from an "overweight" rating to a "hold" rating in a report on Tuesday, March 10th. Wall Street Zen cut shares of Talkspace from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 8th. William Blair cut shares of Talkspace from a "strong-buy" rating to a "hold" rating in a report on Monday, March 9th. Barclays cut their price objective on shares of Talkspace from $5.50 to $5.25 and set an "equal weight" rating on the stock in a report on Monday, March 9th. Finally, Needham & Company LLC cut shares of Talkspace from a "buy" rating to a "hold" rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $5.56.

Talkspace Price Performance

The firm has a market capitalization of $868.54 million, a PE ratio of 103.72 and a beta of 1.07. The business's 50-day moving average price is $5.11 and its 200-day moving average price is $4.11.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its earnings results on Thursday, February 19th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.02 by $0.01. The business had revenue of $63.00 million for the quarter, compared to analyst estimates of $61.91 million. Talkspace had a net margin of 3.40% and a return on equity of 6.89%. Equities analysts forecast that Talkspace, Inc. will post 0.13 earnings per share for the current year.

Hedge Funds Weigh In On Talkspace

A number of hedge funds and other institutional investors have recently bought and sold shares of TALK. Vanguard Group Inc. boosted its position in shares of Talkspace by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company's stock worth $26,090,000 after purchasing an additional 483,012 shares in the last quarter. Deutsche Bank AG boosted its position in shares of Talkspace by 14.6% in the 4th quarter. Deutsche Bank AG now owns 7,094,525 shares of the company's stock worth $25,753,000 after buying an additional 905,304 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Talkspace by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 3,413,825 shares of the company's stock worth $12,395,000 after buying an additional 15,436 shares in the last quarter. Royce & Associates LP raised its stake in Talkspace by 39.7% in the 4th quarter. Royce & Associates LP now owns 3,036,360 shares of the company's stock valued at $11,022,000 after purchasing an additional 862,098 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Talkspace by 12.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,711,641 shares of the company's stock valued at $14,033,000 after purchasing an additional 295,984 shares during the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

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