Talkspace, Inc. (NASDAQ:TALK) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have earned a consensus rating of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $5.5625.

Several equities research analysts recently weighed in on TALK shares. Northland Securities lowered Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Barclays decreased their price objective on Talkspace from $5.50 to $5.25 and set an “equal weight” rating for the company in a report on Monday, March 9th. Needham & Company LLC lowered Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th. KeyCorp lowered Talkspace from an “overweight” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Canaccord Genuity Group lowered Talkspace from a “buy” rating to a “hold” rating in a report on Monday, March 9th.

Talkspace Stock Performance

Shares of TALK opened at $5.19 on Friday. The business has a 50-day moving average of $5.18 and a 200 day moving average of $4.34. Talkspace has a fifty-two week low of $2.22 and a fifty-two week high of $5.20. The firm has a market cap of $869.38 million, a P/E ratio of 519.52 and a beta of 1.07.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Talkspace had a return on equity of 1.03% and a net margin of 0.49%.The firm had revenue of $61.68 million during the quarter, compared to analysts’ expectations of $63.32 million. As a group, research analysts predict that Talkspace will post 0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TALK. AQR Capital Management LLC grew its holdings in Talkspace by 963.3% during the 1st quarter. AQR Capital Management LLC now owns 464,599 shares of the company’s stock valued at $1,189,000 after buying an additional 420,906 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Talkspace by 2.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after buying an additional 3,924 shares in the last quarter. Strs Ohio purchased a new position in Talkspace during the 1st quarter valued at about $58,000. Creative Planning increased its holdings in Talkspace by 24.4% during the 2nd quarter. Creative Planning now owns 80,904 shares of the company’s stock worth $225,000 after acquiring an additional 15,881 shares during the period. Finally, Rhumbline Advisers increased its holdings in Talkspace by 15.9% during the 2nd quarter. Rhumbline Advisers now owns 171,477 shares of the company’s stock worth $477,000 after acquiring an additional 23,497 shares during the period. Hedge funds and other 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.