Is Talkspace, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Talkspace, Inc. has moved from fair to expensive, indicating that the stock is overvalued. The company exhibits a P/E ratio of 188, a Price to Book Value of 4.85, and an EV to Sales ratio of 2.27, all of which suggest that the stock is trading at a premium compared to its earnings and book value. In comparison, Fulgent Genetics, Inc. has a P/E of -21.28, while Enhabit, Inc. shows a P/E of 12.80, highlighting the relative overvaluation of Talkspace.
In terms of recent performance, Talkspace has underperformed against the S&P 500, with a year-to-date return of -10.68% compared to the S&P's 13.30%. This trend reinforces the notion that Talkspace is currently overvalued given its high valuation ratios and poor stock performance relative to the broader market.