Talkspace (NASDAQ:TALK) Announces Quarterly Earnings Results

Talkspace (NASDAQ:TALK) announced its quarterly earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, RTT News reports. Talkspace had a negative return on equity of 6.52% and a negative net margin of 4.44%. The company had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same period last year, the business earned ($0.03) earnings per share. Talkspace updated its FY 2024 guidance to EPS.

Talkspace Trading Up 1.9 %

Shares of TALK stock opened at $3.23 on Thursday. Talkspace has a 12-month low of $1.41 and a 12-month high of $3.92. The business’s 50 day moving average is $2.21 and its two-hundred day moving average is $2.35. The company has a market capitalization of $543.32 million, a P/E ratio of -63.60 and a beta of 1.21.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TALK shares. Barclays lifted their target price on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Wednesday.

Insider Activity

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were acquired at an average cost of $2.11 per share, with a total value of $48,741.00. Following the completion of the acquisition, the chief financial officer now directly owns 397,657 shares in the company, valued at approximately $839,056.27. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company 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.