Northland Capmk Predicts Talkspace FY2024 Earnings

Talkspace, Inc. (NASDAQ:TALK) – Equities research analysts at Northland Capmk issued their FY2024 earnings estimates for shares of Talkspace in a research report issued to clients and investors on Wednesday, November 20th. Northland Capmk analyst B. Brooks anticipates that the company will post earnings of $0.00 per share for the year. Northland Capmk 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.

Several other research firms have also recently weighed in on TALK. Barclays boosted their price objective 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. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Finally, Northland Securities initiated coverage on Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Talkspace Stock Performance

TALK opened at $3.43 on Monday. The company’s 50-day simple moving average is $2.70 and its two-hundred day simple moving average is $2.37. The stock has a market capitalization of $579.40 million, a P/E ratio of -343.00 and a beta of 1.11. Talkspace has a 52-week low of $1.60 and a 52-week high of $3.92.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results 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 firm had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. During the same period in the prior year, the company posted ($0.03) earnings per share.

Hedge Funds Weigh In On Talkspace

A number of hedge funds have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after buying an additional 580,826 shares in the last quarter. Royce & Associates LP bought a new stake in Talkspace during the third quarter valued at about $1,045,000. Dimensional Fund Advisors LP purchased a new position in shares of Talkspace in the second quarter valued at about $921,000. Divisadero Street Capital Management LP boosted its stake in shares of Talkspace by 13.2% in the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after acquiring an additional 361,717 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of 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 worth $814,000 after purchasing an additional 340,030 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were purchased at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the purchase, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at $839,056.27. This represents a 6.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 21.70% of the stock is currently owned by insiders.

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.