Talkspace (NASDAQ:TALK) Reaches New 1-Year High – Here’s Why

Talkspace, Inc. (NASDAQ:TALK) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $5.20 and last traded at $5.19, with a volume of 68905 shares trading hands. The stock had previously closed at $5.20.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TALK shares. Northland Securities downgraded Talkspace from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Barclays reduced their target price on shares of Talkspace from $5.50 to $5.25 and set an “equal weight” rating on the stock in a research report on Monday, March 9th. Weiss Ratings downgraded shares of Talkspace from a “hold (c)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded shares of Talkspace from a “strong-buy” rating to a “buy” rating in a research report on Sunday, March 8th. Finally, Canaccord Genuity Group downgraded shares of Talkspace from a “buy” rating to a “hold” rating in a research report on Monday, March 9th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.56.

Talkspace Stock Performance

The company’s 50-day moving average is $5.17 and its 200 day moving average is $4.31. The company has a market capitalization of $871.05 million, a PE ratio of 104.02 and a beta of 1.07.

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

Institutional Trading of Talkspace

A number of institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of 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 acquiring an additional 3,924 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock worth $54,000 after buying an additional 4,000 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Talkspace by 102.1% in the first quarter. Royal Bank of Canada now owns 8,192 shares of the company’s stock worth $42,000 after buying an additional 4,138 shares during the last quarter. Intech Investment Management LLC boosted its holdings in shares of Talkspace by 11.9% in the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after buying an additional 5,277 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Talkspace by 10.1% in the fourth quarter. Invesco Ltd. now owns 87,765 shares of the company’s stock worth $319,000 after buying an additional 8,015 shares during the last quarter. 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.