Talkspace (NASDAQ:TALK) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Talkspace (NASDAQ:TALK) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Several other research firms have also recently weighed in on TALK. KeyCorp raised their price objective on shares of Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $5.00 price target on shares of Talkspace in a research note on Tuesday, December 2nd. UBS Group reiterated a “buy” rating on shares of Talkspace in a research report on Tuesday, December 30th. Barclays began coverage on Talkspace in a research report on Monday, December 8th. They set an “equal weight” rating and a $3.50 price objective on the stock. Finally, Zacks Research upgraded Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Talkspace has a consensus rating of “Moderate Buy” and a consensus price target of $4.88.

Talkspace Trading Down 0.5%

Shares of TALK opened at $4.02 on Friday. The company has a market cap of $665.95 million, a PE ratio of 134.04 and a beta of 1.18. The stock has a 50-day moving average price of $3.43 and a 200-day moving average price of $2.93. Talkspace has a 12-month low of $2.22 and a 12-month high of $4.36.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $59.38 million for the quarter, compared to analysts’ expectations of $57.45 million. Talkspace had a net margin of 1.98% and a return on equity of 3.75%. As a group, analysts predict that Talkspace will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Talkspace

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royce & Associates LP increased its stake in Talkspace by 526.9% in the 3rd quarter. Royce & Associates LP now owns 2,174,262 shares of the company’s stock worth $6,001,000 after purchasing an additional 1,827,459 shares during the period. CenterBook Partners LP increased its stake in shares of Talkspace by 114.6% in the second quarter. CenterBook Partners LP now owns 2,478,970 shares of the company’s stock worth $6,892,000 after buying an additional 1,323,964 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Talkspace by 42.5% in the second quarter. Balyasny Asset Management L.P. now owns 2,021,738 shares of the company’s stock worth $5,620,000 after buying an additional 603,252 shares during the period. Vanguard Group Inc. raised its holdings in Talkspace by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 9,453,000 shares of the company’s stock valued at $26,090,000 after buying an additional 483,012 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in Talkspace by 41.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 1,601,130 shares of the company’s stock valued at $4,451,000 after buying an additional 469,280 shares during the period. 57.37% of the stock is currently owned by institutional investors.

Talkspace Company Profile

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.