Talkspace’s (TALK) “Hold” Rating Reaffirmed at Needham & Company LLC

Talkspace (NASDAQ:TALK)‘s stock had its “hold” rating reissued by equities research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports.

Several other research analysts have also recently issued reports on TALK. Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. KeyCorp began coverage on Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price for the company. Northland Securities began coverage on Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price for the company. Barclays upped their target price on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Northland Capmk raised Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $4.38.

Talkspace Stock Performance

NASDAQ:TALK opened at $3.01 on Friday. The stock has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $2.81. The stock has a market cap of $508.45 million, a P/E ratio of 301.30 and a beta of 1.14. Talkspace has a 1 year low of $1.60 and a 1 year high of $4.36.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $48.72 million during the quarter, compared to analysts’ expectations of $49.94 million. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. On average, equities research analysts predict that Talkspace will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Talkspace

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. raised its stake in shares of Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock worth $1,101,000 after buying an additional 430,861 shares in the last quarter. Evernest Financial Advisors LLC purchased a new position in shares of Talkspace during the 4th quarter worth approximately $337,000. Royce & Associates LP purchased a new position in shares of Talkspace during the 3rd quarter worth approximately $1,045,000. Barclays PLC raised its stake in shares of Talkspace by 322.3% during the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after buying an additional 134,313 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after buying an additional 580,826 shares in the last quarter. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.