Barclays Increases Talkspace (NASDAQ:TALK) Price Target to $3.00

Talkspace (NASDAQ:TALK) had its price target lifted by Barclays from $2.00 to $3.00 in a report released on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential downside of 5.36% from the stock’s current price.

Separately, Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Tuesday, August 6th.

Talkspace Stock Down 0.3 %

TALK opened at $3.17 on Tuesday. The stock has a market cap of $533.23 million, a PE ratio of -63.60 and a beta of 1.21. The business has a 50 day moving average of $2.21 and a 200-day moving average of $2.35. Talkspace has a 52 week low of $1.41 and a 52 week high of $3.92.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. Talkspace had a negative return on equity of 6.52% and a negative net margin of 4.44%. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Equities analysts anticipate that Talkspace will post -0.04 EPS for the current year.

Insider Transactions at Talkspace

In other Talkspace news, CFO Ian Jiro Harris acquired 23,100 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was purchased at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the purchase, the chief financial officer now directly owns 397,657 shares in the company, valued at approximately $839,056.27. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. purchased a new stake in Talkspace during the second quarter valued at approximately $38,000. Fifth Lane Capital LP bought a new position in shares of Talkspace during the first quarter valued at approximately $55,000. Creative Planning grew its stake in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after buying an additional 6,179 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Talkspace during the first quarter valued at approximately $74,000. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Talkspace during the third quarter valued at approximately $84,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

About Talkspace

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.