Brokers Issue Forecasts for Talkspace FY2024 Earnings

Talkspace, Inc. (NASDAQ:TALK) – Equities researchers at Northland Capmk issued their FY2024 earnings per share (EPS) estimates for Talkspace in a research report issued to clients and investors on Wednesday, November 20th. Northland Capmk analyst B. Brooks forecasts that the company will post earnings per share of $0.00 for the year. Northland Capmk currently has a “Strong-Buy” rating on the stock. The consensus estimate for Talkspace’s current full-year earnings is ($0.02) per share. Northland Capmk also issued estimates for Talkspace’s Q4 2024 earnings at $0.00 EPS, Q1 2025 earnings at $0.01 EPS, Q2 2025 earnings at $0.01 EPS, Q3 2025 earnings at $0.01 EPS, Q4 2025 earnings at $0.02 EPS and FY2025 earnings at $0.06 EPS.

A number of other research firms also recently issued reports on TALK. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Barclays lifted their price objective 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 Securities assumed coverage on Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price on the stock. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $4.00.

Talkspace Stock Performance

TALK stock opened at $3.31 on Monday. The firm has a 50 day simple moving average of $2.73 and a 200 day simple moving average of $2.37. Talkspace has a 52 week low of $1.60 and a 52 week high of $3.92. The stock has a market cap of $559.13 million, a P/E ratio of -331.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The firm had revenue of $47.40 million during the quarter, compared to analyst estimates of $47.50 million. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. During the same period last year, the company posted ($0.03) EPS.

Insider Activity

In related news, CFO Ian Jiro Harris purchased 23,100 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the purchase, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. The trade was a 6.17 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 21.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Talkspace

Several institutional investors and hedge funds have recently added to or reduced their stakes in TALK. Barclays PLC grew its stake in Talkspace by 322.3% in the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock valued at $368,000 after buying an additional 134,313 shares during the last quarter. State Street Corp boosted its holdings in Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after acquiring an additional 580,826 shares during the period. Clearline Capital LP grew its position in shares of Talkspace by 28.1% in the third quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock valued at $2,610,000 after purchasing an additional 273,994 shares during the last quarter. Josh Arnold Investment Consultant LLC acquired a new stake in shares of Talkspace in the third quarter valued at about $125,000. Finally, MetLife Investment Management LLC increased its stake in shares of Talkspace by 27.1% in the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after purchasing an additional 8,764 shares during the period. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.