Mizuho Begins Coverage on Talkspace (NASDAQ:TALK)

Stock analysts at Mizuho initiated coverage on shares of Talkspace (NASDAQ:TALK) in a report issued on Wednesday, Marketbeat reports. The firm set an “outperform” rating and a $5.00 price target on the stock. Mizuho’s price objective would indicate a potential upside of 42.45% from the company’s current price.

Other research analysts also recently issued reports about the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Barclays increased their price target on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Finally, Northland Securities initiated coverage on shares of Talkspace in a report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective on the stock. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Talkspace has a consensus rating of “Moderate Buy” and a consensus price target of $4.33.

Talkspace Trading Down 2.8 %

NASDAQ TALK opened at $3.51 on Wednesday. Talkspace has a 1 year low of $1.60 and a 1 year high of $3.92. The company has a fifty day simple moving average of $2.95 and a 200 day simple moving average of $2.41. The company has a market cap of $592.92 million, a P/E ratio of -351.00 and a beta of 1.12.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $47.40 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned ($0.03) earnings per share. Equities research analysts forecast that Talkspace will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling

In other Talkspace news, CFO Ian Jiro Harris purchased 23,100 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $2.11 per share, for a total transaction 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. This trade represents a 6.17 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 21.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Talkspace

Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its stake in Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after buying an additional 580,826 shares in the last quarter. Royce & Associates LP acquired a new stake in shares of Talkspace in the 3rd quarter valued at $1,045,000. Dimensional Fund Advisors LP acquired a new stake in shares of Talkspace in the 2nd quarter valued at $921,000. Divisadero Street Capital Management LP grew its holdings in shares of Talkspace by 13.2% in the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after purchasing an additional 361,717 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after purchasing an additional 340,030 shares in the last quarter. 57.37% of the stock is owned by institutional investors and hedge funds.

Talkspace Company Profile

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.