FY2024 EPS Estimates for Talkspace Boosted by William Blair

Talkspace, Inc. (NASDAQ:TALK) – Analysts at William Blair raised their FY2024 earnings estimates for Talkspace in a research note issued to investors on Tuesday, October 29th. William Blair analyst R. Daniels now expects that the company will earn $0.00 per share for the year, up from their prior estimate of ($0.01). The consensus estimate for Talkspace’s current full-year earnings is ($0.04) per share.

A number of other brokerages have also issued reports on TALK. Barclays boosted their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday.

Talkspace Stock Down 0.3 %

Shares of Talkspace stock opened at $3.17 on Wednesday. Talkspace has a 52-week low of $1.41 and a 52-week high of $3.92. The company’s 50-day simple moving average is $2.21 and its 200-day simple moving average is $2.35. The firm has a market cap of $533.23 million, a price-to-earnings ratio of -63.60 and a beta of 1.21.

Talkspace (NASDAQ:TALK) last announced its earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. Talkspace had a negative net margin of 4.44% and a negative return on equity of 6.52%. The business had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same period in the prior year, the company earned ($0.03) earnings per share.

Insiders Place Their Bets

In related news, CFO Ian Jiro Harris bought 23,100 shares of the stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the transaction, the chief financial officer now owns 397,657 shares of the company’s stock, valued at $839,056.27. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew 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 worth $814,000 after buying an additional 340,030 shares during the period. Dimensional Fund Advisors LP acquired a new position in Talkspace during the second quarter worth about $921,000. Divisadero Street Capital Management LP grew its position 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 valued at $7,157,000 after purchasing an additional 361,717 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Talkspace by 1.5% in the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after purchasing an additional 84,933 shares during the last quarter. Finally, Advisory Alpha LLC acquired a new stake in shares of Talkspace in the first quarter valued at approximately $296,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.