Northland Capmk Upgrades Talkspace (NASDAQ:TALK) to “Strong-Buy”

Northland Capmk upgraded shares of Talkspace (NASDAQ:TALK) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

A number of other research firms have also recently weighed in on TALK. Barclays raised their price target on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Finally, Northland Securities initiated coverage on shares of Talkspace in a research report on Wednesday. They set an “outperform” rating and a $5.00 price target on the stock. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Talkspace currently has an average rating of “Moderate Buy” and an average price target of $4.00.

Talkspace Stock Performance

Shares of NASDAQ TALK opened at $3.45 on Wednesday. The business has a fifty day moving average of $2.70 and a two-hundred day moving average of $2.37. Talkspace has a 52-week low of $1.60 and a 52-week high of $3.92. The stock has a market cap of $582.78 million, a PE ratio of -345.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The firm had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. During the same period last year, the firm posted ($0.03) EPS. Analysts predict that Talkspace will post -0.03 earnings per share for the current year.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris acquired 23,100 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the transaction, the chief financial officer now owns 397,657 shares of the company’s stock, valued at $839,056.27. This trade represents a 6.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.70% of the stock is currently owned by company insiders.

Institutional Trading of Talkspace

Institutional investors have recently made changes to their positions in the business. Creative Planning increased its stake in shares of Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after purchasing an additional 6,179 shares during the last quarter. MetLife Investment Management LLC increased its position in Talkspace by 27.1% during the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after buying an additional 8,764 shares during the last quarter. Aigen Investment Management LP increased its position in Talkspace by 37.8% during the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after buying an additional 9,766 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in Talkspace in the third quarter valued at approximately $33,000. Finally, Principal Financial Group Inc. bought a new position in shares of Talkspace during the 2nd quarter worth approximately $38,000. Institutional investors own 57.37% of the company’s stock.

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.