UPDATE: Baird Downgrades TalkSpace (TALK) to Neutral
- Wall Street ends sharply higher, fueled by Apple
- Here's Which Stocks Warren Buffett's Berkshire (BRK) Bought in Q1
- Walmart (WMT) Stock Drops 6% as Higher Costs Weigh on Profit, Analyst Says Results 'Disappointing'
- Home Depot (HD) Shares Rally 4% on Earnings Beat, Results Seen as Strong
- Bear Rally Now 'Imminent' Says BofA's Hartnett but Warns Ultimate Lows Yet to Be Reached
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."
Shares of TalkSpace closed at $3.39 yesterday.
You May Also Be Interested In
- UPDATE: Goldman Sachs Downgrades Warby Parker Inc. (WRBY) to Neutral
- Shoals Technologies Group (SHLS) PT Lowered to $20 at Roth Capital
- Anebulo Pharmaceuticals (ANEB) PT Lowered to $10 at Benchmark
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Downgrades
Related EntitiesRobert W Baird
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!