Fintel reports that on July 1, 2024, Needham initiated coverage of Talkspace (NasdaqCM:TALK) with a Hold recommendation.
Analyst Price Forecast Suggests 95.22% Upside
As of June 12, 2024, the average one-year price target for Talkspace is $4.08/share. The forecasts range from a low of $3.03 to a high of $5.25. The average price target represents an increase of 95.22% from its latest reported closing price of $2.09 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Talkspace is 156MM, a decrease of 3.69%. The projected annual non-GAAP EPS is -0.30.
What is the Fund Sentiment?
There are 135 funds or institutions reporting positions in Talkspace. This is an increase of 44 owner(s) or 48.35% in the last quarter. Average portfolio weight of all funds dedicated to TALK is 0.61%, an increase of 6.16%. Total shares owned by institutions increased in the last three months by 12.53% to 92,290K shares. 
The put/call ratio of TALK is 0.03, indicating a bullish outlook.
What are Other Shareholders Doing?
NVP Associates holds 14,703K shares representing 8.66% ownership of the company. No change in the last quarter.
Hudson Executive Capital holds 11,341K shares representing 6.68% ownership of the company. No change in the last quarter.
Revolution Growth Management holds 7,691K shares representing 4.53% ownership of the company. No change in the last quarter.
Shannon River Fund Management holds 6,819K shares representing 4.02% ownership of the company. In its prior filing, the firm reported owning 5,000K shares , representing an increase of 26.68%. The firm increased its portfolio allocation in TALK by 133.59% over the last quarter.
Goldman Sachs Group holds 6,601K shares representing 3.89% ownership of the company. In its prior filing, the firm reported owning 8,291K shares , representing a decrease of 25.61%. The firm decreased its portfolio allocation in TALK by 72.50% over the last quarter.
Talkspace Background Information
(This description is provided by the company.)
Talkspace is the leading virtual behavioral healthcare company committed to making care more effective, accessible, and convenient. Talkspace addresses the challenges of traditional mental healthcare by combining effective clinical solutions with technology designed for how we live today. The platform is powered by a diverse team of certified mental health specialists in every state providing therapy and psychiatric treatment for individuals, couples, and adolescents. Talkspace therapists meet clients where they are, on their schedules, on any device, via chat, voice, and video. All care is delivered through an easy-to-use and fully encrypted web and mobile platform, consistent with HIPAA and other state regulatory requirements. More than two million people have used Talkspace. Talkspace for Business, the enterprise division of Talkspace, now covers more than 55 million lives. Existing relationships include leading employers, schools, and the nation’s largest health care plans, including an in-network provider agreement with Cigna.
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