Talkspace (NASDAQ:TALK) Sets New 12-Month High – Still a Buy?

Shares of Talkspace, Inc. (NASDAQ:TALK) reached 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. The stock had previously closed at $4.08.

Analyst Ratings Changes

Several equities research analysts recently commented on TALK shares. Mizuho began coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective on the stock. Barclays raised their price target on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. KeyCorp started coverage on shares of Talkspace in a research report on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective on the stock. Northland Securities began coverage on Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Two 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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $4.38.

Talkspace Stock Down 14.8 %

The stock has a market cap of $555.75 million, a P/E ratio of -329.00 and a beta of 1.14. The firm has a 50 day moving average price of $3.30 and a 200 day moving average price of $2.79.

Talkspace (NASDAQ:TALK) last released its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. Equities analysts predict that Talkspace, Inc. will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Talkspace

A number of institutional investors have recently added to or reduced their stakes in the stock. Sugar Maple Asset Management LLC bought a new stake in Talkspace in the 3rd quarter valued at $33,000. Cibc World Markets Corp bought a new position in Talkspace during the 4th quarter valued at about $36,000. Belvedere Trading LLC purchased a new stake in shares of Talkspace in the fourth quarter worth approximately $37,000. Ameriprise Financial Inc. purchased a new stake in Talkspace in the fourth quarter worth $53,000. Finally, Creative Planning lifted its holdings in Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after buying an additional 6,179 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.