UPDATE: Baird Downgrades TalkSpace (TALK) to Neutral

November 16, 2021 3:36 AM EST
Get Alerts TALK Hot Sheet
Price: $1.19 +0.85%

Rating Summary:
    3 Buy, 4 Hold, 0 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 16 | Down: 16 | New: 12
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(Updated - November 16, 2021 6:16 AM EST)

Baird analyst Vikram Kesavabhotla downgraded TalkSpace (NASDAQ: TALK) from Outperform to Neutral with a price target of $3.00 (from $10.00).

The analyst comments "Downgrade to Neutral. The quarter was disappointing, but almost did not matter in comparison to the broader dynamics — including management turnover and pulling FY/long-term guidance. We underappreciated how quickly execution challenges and the macro/competitive environment could impact TALK. We still think there is underlying value here, but with the magnitude of uncertainty going forward with respect to estimates, the broader strategy, and management change, we find it difficult to continue recommending this name with conviction."

For an analyst ratings summary and ratings history on TalkSpace click here. For more ratings news on TalkSpace click here.

Shares of TalkSpace closed at $3.39 yesterday.

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