Talkspace (NASDAQ:TALK) Releases Quarterly Earnings Results

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

Talkspace Stock Down 1.3 %

Shares of TALK traded down $0.04 during trading hours on Wednesday, reaching $3.14. The company’s stock had a trading volume of 1,711,215 shares, compared to its average volume of 1,586,846. The firm has a market cap of $528.19 million, a price-to-earnings ratio of -63.40 and a beta of 1.21. Talkspace has a 1-year low of $1.41 and a 1-year high of $3.92. The company has a 50 day moving average of $2.21 and a two-hundred day moving average of $2.35.

Analyst Ratings Changes

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

Insider Activity

In other news, CFO Ian Jiro Harris acquired 23,100 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The shares were purchased at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the acquisition, the chief financial officer now owns 397,657 shares of the company’s stock, valued at approximately $839,056.27. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 21.70% of the stock is owned by corporate insiders.

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.