Talkspace (NASDAQ:TALK) Receives Hold Rating from Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Talkspace (NASDAQ:TALK) in a report issued on Friday,Benzinga reports.

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

Talkspace Price Performance

Shares of NASDAQ:TALK opened at $3.01 on Friday. Talkspace has a one year low of $1.60 and a one year high of $4.36. The company has a market cap of $508.46 million, a price-to-earnings ratio of -301.00 and a beta of 1.14. The firm has a 50 day simple moving average of $3.30 and a 200 day simple moving average of $2.80.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The company had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. As a group, analysts expect that Talkspace will post 0.02 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG increased its position in shares of Talkspace by 103.1% during the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock worth $14,262,000 after buying an additional 2,342,913 shares during the period. Voss Capital LP bought a new stake in Talkspace during the fourth quarter valued at $3,981,000. Arrowstreet Capital Limited Partnership acquired a new stake in Talkspace during the 4th quarter worth about $3,371,000. Balyasny Asset Management L.P. bought a new position in shares of Talkspace in the 4th quarter worth about $3,179,000. Finally, Metavasi Capital LP bought a new position in shares of Talkspace in the 4th quarter worth about $2,295,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Company Profile

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.