Talkspace (NASDAQ:TALK) Shares Gap Up - What's Next?

Key Points

• Talkspace's stock price increased from $2.91 to $3.22 before opening, with the last trade at $3.13 and a trading volume of over 1 million shares.
• Analysts have mixed ratings on Talkspace, with an average rating of "Moderate Buy" and a consensus target price of $4.50, while some firms downgraded the stock to "strong sell."
• Talkspace reported earnings of $0.00 per share, missing expectations, but had a revenue of $54.31 million, slightly exceeding analyst predictions.

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $2.91, but opened at $3.22. Talkspace shares last traded at $3.13, with a volume of 1,068,560 shares.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d)" rating on shares of Talkspace in a report on Wednesday. Zacks Research cut Talkspace from a "hold" rating to a "strong sell" rating in a report on Monday. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $4.50.

Talkspace Trading Up 10.1%

The firm has a market capitalization of $536.40 million, a PE ratio of 161.33 and a beta of 1.12. The business has a 50-day moving average of $2.62 and a 200 day moving average of $2.76.

Talkspace (NASDAQ:TALK - Get Free Report) last announced 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 net margin of 1.41% and a return on equity of 2.48%. The business had revenue of $54.31 million for the quarter, compared to analysts' expectations of $54.08 million. Talkspace has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TALK. Cerity Partners LLC bought a new position in shares of Talkspace during the 2nd quarter worth $28,000. Neuberger Berman Group LLC purchased a new stake in shares of Talkspace in the 2nd quarter valued at about $29,000. Integrity Alliance LLC. purchased a new stake in shares of Talkspace in the 1st quarter valued at about $35,000. Engineers Gate Manager LP purchased a new position in shares of Talkspace during the 2nd quarter valued at about $39,000. Finally, NewEdge Advisors LLC purchased a new position in shares of Talkspace during the 2nd quarter valued at about $41,000. Institutional investors own 57.37% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.