Talkspace (NASDAQ:TALK) Hits New 52-Week High – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $4.32 and last traded at $4.09, with a volume of 68696 shares traded. The stock had previously closed at $4.08.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Mizuho initiated coverage on shares of Talkspace in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target for the company. Northland Securities assumed coverage on Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Finally, Barclays raised their price target on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Talkspace has an average rating of “Buy” and an average price target of $4.38.

Talkspace Price Performance

The business’s 50-day simple moving average is $3.30 and its 200-day simple moving average is $2.79. The company has a market cap of $555.75 million, a price-to-earnings ratio of -329.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. As a group, sell-side analysts forecast that Talkspace, Inc. will post 0.02 EPS for the current year.

Institutional Investors Weigh In On Talkspace

Large investors have recently made changes to their positions in the business. Cibc World Markets Corp purchased a new position in shares of Talkspace in the fourth quarter valued at $36,000. Belvedere Trading LLC acquired a new stake in shares of Talkspace in the 4th quarter valued at about $37,000. Sugar Maple Asset Management LLC acquired a new stake in Talkspace during the third quarter valued at approximately $33,000. Ameriprise Financial Inc. bought a new position in Talkspace during the fourth quarter worth $53,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Talkspace in the 4th quarter valued at about $69,000. Institutional investors and hedge funds 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.