Talkspace (NASDAQ:TALK) Announces Quarterly Earnings Results

Talkspace (NASDAQ:TALK) announced its earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, RTT News reports. The business had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. 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 Price Performance

NASDAQ TALK opened at $3.13 on Friday. Talkspace has a 52-week low of $1.41 and a 52-week high of $3.92. The firm has a 50-day moving average price of $2.23 and a 200 day moving average price of $2.35.

Insider Buying and Selling at Talkspace

In other Talkspace news, CFO Ian Jiro Harris bought 19,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was acquired at an average cost of $2.20 per share, with a total value of $42,900.00. Following the purchase, the chief financial officer now owns 347,057 shares in the company, valued at approximately $763,525.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research report on Wednesday. Barclays increased their price target on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday.

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.