Why Talkspace Inc (NASDAQ: TALK) Stock Should Not Be Taken For Granted By Investors In 2024

In the last trading session, 1.28 million shares of the Talkspace Inc (NASDAQ:TALK) were traded, and its beta was 1.26. Most recently the company’s share price was $3.57, and it changed around $0.0 or 0.00% from the last close, which brings the market valuation of the company to $602.97M. TALK currently trades at a discount to its 52-week high of $3.77, offering almost -5.6% off that amount. The share price’s 52-week low was $0.66, which indicates that the current value has risen by an impressive 81.51% since then. We note from Talkspace Inc’s average daily trading volume that its 10-day average is 1.64 million shares, with the 3-month average coming to 1.16 million.

Talkspace Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.67. If we narrow it down even further, the data shows that 0 out of 3 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended TALK as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Talkspace Inc is expected to report earnings per share of -$0.01 for the current quarter.

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Talkspace Inc (NASDAQ:TALK) trade information

The performance over the last five days has remained in the green territory. The company’s shares are currently up 40.55% year-to-date, but still up 2.59% over the last five days. On the other hand, Talkspace Inc (NASDAQ:TALK) is 23.96% up in the 30-day period. We can see from the shorts that 2.8 million shares have been sold at a short interest cover period of 1.63 day(s).

The consensus price target as assigned by Wall Street analysts is $2, which translates to bulls needing to decrease their stock price by -78.5% from its current value. Analyst projections state that TALK is forecast to be at a low of $2 and a high of $2.

Talkspace Inc (TALK) estimates and forecasts

Talkspace Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 84.02 percent over the past six months and at a 75.00% annual growth rate that is well above the industry average of 23.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 80.00% in revenue this quarter, and will report an increase of 100.00% in the next quarter. The year-over-year growth rate is expected to be 27.70%, up from the previous year.

Consensus estimates provided by 2 financial analysts predict the company will bring in an average of $44.5 million in revenue for the current quarter. 2 analysts expect Talkspace Inc to make $46.4 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $33.34 million and $35.65 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 33.50%. Forecasts for the next quarter put sales growth at 30.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 32.57%.

TALK Dividends

Talkspace Inc’s next quarterly earnings report is expected to be released around April 30 and May 06.

Talkspace Inc (NASDAQ:TALK)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 4.84% of Talkspace Inc shares, and 63.04% of them are in the hands of institutional investors. The stock currently has a share float of 66.25%. Talkspace Inc stock is held by 87 institutions, with NVP Associates, LLC being the largest institutional investor. By Dec 30, 2023, it held 8.70% of the shares, which is about 14.7 million shares worth $52.49 million.

Hudson Executive Capital, LP, with 6.71% or 11.34 million shares worth $40.49 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 3.52 million shares worth $12.56 million, making up 2.08% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 2.11 million shares worth around $7.53 million, which represents about 1.25% of the total shares outstanding.