Is Talkspace, Inc. overvalued or undervalued?

As of 8 September 2025, the valuation grade for Talkspace, Inc. has moved from very attractive to expensive, indicating a shift in perception regarding its market value. The company appears to be overvalued, with a P/E ratio of 188, significantly higher than its peer average of 156.07, and an EV to EBITDA ratio of -170.31, which suggests substantial operational inefficiencies compared to its peers. Additionally, the PEG ratio stands at 1.51, indicating that the stock may not be justified by its growth prospects.
In comparison to its peers, Fulgent Genetics, Inc. has a P/E ratio of -21.28, while Enhabit, Inc. shows a more favorable P/E of 12.80, highlighting the relative overvaluation of Talkspace. Despite a strong one-year return of 29.90% compared to the S&P 500's 17.14%, the year-to-date performance of -14.24% against the S&P's 12.22% suggests that the stock may be struggling to maintain its momentum. Overall, the high valuation ratios and the recent performance trends indicate that Talkspace, Inc. is currently overvalued.