Talkspace (NASDAQ:TALK) Sets New 12-Month High - What's Next?

Key Points

• Talkspace reached a new 52-week high of $5.20 on Monday with about 1.96 million shares traded, trading above its 50‑day moving average ($5.08) and well above its 200‑day average ($4.06).
• Several brokers have recently downgraded the stock, leaving a MarketBeat consensus rating of Hold and a consensus price target of $5.56 (one Buy vs. eight Hold).
• The company posted a slight beat last quarter (EPS $0.03 vs. $0.02 consensus, revenue $63M) but carries a rich valuation (market cap ≈ $871M and a P/E of 104), with institutional investors owning about 57% of shares.

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $5.20 and last traded at $5.20, with a volume of 1963983 shares. The stock had previously closed at $5.19.

Analysts Set New Price Targets

Several research firms have weighed in on TALK. William Blair cut shares of Talkspace from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 9th. Wall Street Zen cut shares of Talkspace from a "strong-buy" rating to a "buy" rating in a research report on Sunday, March 8th. Needham & Company LLC cut shares of Talkspace from a "buy" rating to a "hold" rating in a research report on Monday, March 9th. Northland Securities cut Talkspace from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Finally, Canaccord Genuity Group cut Talkspace from a "buy" rating to a "hold" rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $5.56.

Talkspace Stock Performance

The firm has a market cap of $871.05 million, a P/E ratio of 104.02 and a beta of 1.07. The company has a 50 day moving average of $5.08 and a 200 day moving average of $4.06.

Talkspace (NASDAQ:TALK - Get Free Report) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $63.00 million during the quarter, compared to analysts' expectations of $61.91 million. Talkspace had a return on equity of 6.89% and a net margin of 3.40%. As a group, analysts expect that Talkspace, Inc. will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Talkspace

Several large investors have recently made changes to their positions in TALK. State of Alaska Department of Revenue bought a new stake in Talkspace in the third quarter worth $25,000. Cerity Partners LLC bought a new stake in Talkspace in the second quarter worth $28,000. Xponance Inc. bought a new stake in Talkspace in the third quarter worth $31,000. Nierenberg Investment Management Company Inc. bought a new stake in Talkspace in the third quarter worth $32,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Talkspace in the third quarter worth $35,000. Institutional investors own 57.37% of the company's stock.

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.

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