KeyCorp Predicts Talkspace's FY2024 Earnings (NASDAQ:TALK)

Talkspace, Inc. (NASDAQ:TALK - Free Report) - Investment analysts at KeyCorp issued their FY2024 earnings per share estimates for shares of Talkspace in a research note issued on Monday, December 9th. KeyCorp analyst S. Schoenhaus expects that the company will earn $0.07 per share for the year. KeyCorp currently has a "Strong-Buy" rating on the stock. The consensus estimate for Talkspace's current full-year earnings is ($0.02) per share. KeyCorp also issued estimates for Talkspace's FY2025 earnings at $0.10 EPS and FY2026 earnings at $0.19 EPS.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The company had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. During the same period last year, the company earned ($0.03) earnings per share.

A number of other equities analysts also recently weighed in on TALK. Northland Securities started coverage on Talkspace in a research note on Wednesday, November 20th. They issued an "outperform" rating and a $5.00 target price on the stock. Mizuho initiated coverage on Talkspace in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 price target for the company. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a report on Wednesday, October 30th. Barclays boosted their target price on Talkspace from $2.00 to $3.00 and gave the stock an "equal weight" rating in a research report on Tuesday, October 29th. Finally, Northland Capmk upgraded shares of 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 assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, Talkspace presently has an average rating of "Buy" and a consensus price target of $4.38.

Talkspace Price Performance

Shares of TALK traded down $0.01 during trading hours on Wednesday, hitting $3.45. The stock had a trading volume of 1,240,750 shares, compared to its average volume of 1,614,858. The firm has a market capitalization of $582.78 million, a P/E ratio of -346.00 and a beta of 1.12. The firm has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $2.42. Talkspace has a 1-year low of $1.60 and a 1-year high of $3.92.

Institutional Trading of Talkspace

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in Talkspace by 2,480.3% during the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company's stock valued at $814,000 after acquiring an additional 340,030 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Talkspace during the 2nd quarter worth about $264,000. Principal Financial Group Inc. acquired a new stake in Talkspace during the 2nd quarter worth $38,000. Rhumbline Advisers increased its holdings in shares of Talkspace by 2,357.6% in the second quarter. Rhumbline Advisers now owns 135,215 shares of the company's stock valued at $311,000 after purchasing an additional 129,713 shares during the last quarter. Finally, Dimensional Fund Advisors LP purchased a new position in Talkspace during the second quarter worth about $921,000. Hedge funds and other institutional investors own 57.37% of the company's stock.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris purchased 19,500 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was purchased at an average price of $2.20 per share, with a total value of $42,900.00. Following the acquisition, the chief financial officer now owns 347,057 shares in the company, valued at approximately $763,525.40. The trade was a 5.95 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.70% 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.