Talkspace (NASDAQ:TALK) Sets New 1-Year High - Time to Buy?

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) shares hit a new 52-week high on Tuesday . The company traded as high as $4.32 and last traded at $4.09, with a volume of 68696 shares trading hands. The stock had previously closed at $4.08.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TALK shares. KeyCorp started coverage on shares of Talkspace in a research note on Monday, December 9th. They set an "overweight" rating and a $4.50 target price for the company. Northland Capmk upgraded shares of Talkspace to a "strong-buy" rating in a research note on Wednesday, November 20th. Northland Securities initiated coverage on shares of Talkspace in a research report on Wednesday, November 20th. They set an "outperform" rating and a $5.00 price objective for the company. Mizuho initiated coverage on shares of Talkspace in a research report on Wednesday, December 4th. They set an "outperform" rating and a $5.00 price objective for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research report on Friday. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Talkspace has a consensus rating of "Buy" and a consensus target price of $4.38.

Talkspace Stock Performance

The business's 50-day moving average price is $3.30 and its 200-day moving average price is $2.80. The stock has a market cap of $508.46 million, a P/E ratio of -301.00 and a beta of 1.14.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP boosted its holdings in Talkspace by 14.2% in the 4th quarter. Two Sigma Investments LP now owns 668,723 shares of the company's stock worth $2,066,000 after buying an additional 82,921 shares during the period. State of Wyoming bought a new position in Talkspace in the 4th quarter worth $439,000. Tema Etfs LLC bought a new position in Talkspace in the 4th quarter worth $81,000. ProShare Advisors LLC boosted its holdings in Talkspace by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 34,622 shares of the company's stock worth $107,000 after buying an additional 11,392 shares during the period. Finally, Man Group plc bought a new position in Talkspace in the 4th quarter worth $481,000. Institutional investors 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.