Brokerages Set Talkspace, Inc. (NASDAQ:TALK) PT at $4.00

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned a consensus rating of “Moderate Buy” from the five brokerages that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.33.

TALK has been the subject of a number of recent analyst reports. Northland Securities assumed coverage on shares of Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target for the company. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays boosted their price objective on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Mizuho initiated coverage on Talkspace in a research report on Wednesday. They set an “outperform” rating and a $5.00 target price for the company. Finally, Northland Capmk raised Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th.

Insider Activity at Talkspace

In related news, CFO Ian Jiro Harris acquired 19,500 shares of Talkspace stock in a transaction on Tuesday, September 17th. The shares were bought at an average cost of $2.20 per share, with a total value of $42,900.00. Following the completion of the purchase, the chief financial officer now directly owns 347,057 shares of the company’s stock, valued at $763,525.40. The trade was a 5.95 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 21.70% of the stock is owned by corporate insiders.

Institutional Trading of Talkspace

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Talkspace by 1.5% during the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after acquiring an additional 84,933 shares during the last quarter. Virtu Financial LLC purchased a new stake in Talkspace in the 1st quarter worth about $74,000. Bank of New York Mellon Corp lifted its stake in Talkspace by 2,480.3% in the second 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Talkspace during the second quarter valued at approximately $264,000. Finally, Principal Financial Group Inc. bought a new position in shares of Talkspace during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Trading Down 0.6 %

TALK opened at $3.49 on Wednesday. The firm’s 50 day simple moving average is $2.98 and its two-hundred day simple moving average is $2.42. The company has a market capitalization of $589.54 million, a PE ratio of -349.00 and a beta of 1.12. Talkspace has a 1-year low of $1.60 and a 1-year high of $3.92.

Talkspace (NASDAQ:TALK) last released its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The company had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. During the same period in the previous year, the business earned ($0.03) earnings per share. Equities analysts forecast that Talkspace will post -0.02 earnings per share for the current fiscal year.

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.