Talkspace (NASDAQ:TALK) Issues Earnings Results

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

Talkspace Stock Up 1.9 %

Shares of NASDAQ:TALK opened at $3.23 on Thursday. Talkspace has a 52-week low of $1.41 and a 52-week high of $3.92. The stock has a market cap of $543.32 million, a P/E ratio of -63.60 and a beta of 1.21. The business has a fifty day moving average of $2.21 and a two-hundred day moving average of $2.35.

Insider Transactions at Talkspace

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 stock was purchased at an average price of $2.11 per share, with a total value 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 $839,056.27. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 21.70% of the company’s stock.

Analyst Upgrades and Downgrades

TALK has been the topic of several research reports. Barclays raised 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 reissued a “hold” rating on shares of Talkspace in a research note on Wednesday.

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.