Needham & Company LLC Upgrades Talkspace (NASDAQ:TALK) to “Buy”

Talkspace (NASDAQ:TALK) was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued on Friday, MarketBeat.com reports. The firm presently has a $5.00 price target on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 54.80% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on TALK. Zacks Research cut Talkspace from a “hold” rating to a “strong sell” rating in a report on Monday, October 6th. Weiss Ratings restated a “sell (d)” rating on shares of Talkspace in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $5.10.

Talkspace Stock Performance

TALK opened at $3.23 on Friday. The firm has a 50 day moving average price of $2.72 and a 200 day moving average price of $2.78. The company has a market cap of $540.93 million, a PE ratio of 107.70 and a beta of 1.12. Talkspace has a 1 year low of $2.22 and a 1 year high of $4.36.

Talkspace (NASDAQ:TALK) last posted its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $59.38 million during the quarter, compared to the consensus estimate of $57.45 million. Talkspace had a net margin of 1.98% and a return on equity of 3.70%. Talkspace has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Talkspace will post 0.08 earnings per share for the current year.

Institutional Trading of Talkspace

Institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC acquired a new stake in Talkspace in the first quarter valued at $104,000. Josh Arnold Investment Consultant LLC acquired a new stake in Talkspace in the first quarter valued at $640,000. Vanguard Group Inc. raised its holdings in Talkspace by 6.5% in the first quarter. Vanguard Group Inc. now owns 7,650,330 shares of the company’s stock valued at $19,585,000 after acquiring an additional 469,543 shares in the last quarter. Deutsche Bank AG raised its holdings in Talkspace by 10.6% in the first quarter. Deutsche Bank AG now owns 5,104,995 shares of the company’s stock valued at $13,069,000 after acquiring an additional 489,510 shares in the last quarter. Finally, Integrity Alliance LLC. acquired a new stake in Talkspace in the first quarter valued at $35,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Talkspace Company Profile

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.