Talkspace (NASDAQ:TALK) Coverage Initiated at Canaccord Genuity Group

Equities research analysts at Canaccord Genuity Group began coverage on shares of Talkspace (NASDAQ:TALK) in a research note issued on Thursday, Marketbeat reports. The brokerage set a “buy” rating and a $5.00 price target on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 90.11% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price on the stock. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Friday, February 21st. Finally, Mizuho began coverage on Talkspace in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 target price for the company. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $4.50.

Talkspace Stock Down 1.5 %

Shares of TALK stock opened at $2.63 on Thursday. Talkspace has a fifty-two week low of $1.60 and a fifty-two week high of $4.36. The firm’s 50 day moving average price is $3.11 and its two-hundred day moving average price is $3.01. The stock has a market cap of $442.99 million, a price-to-earnings ratio of 263.26 and a beta of 1.16.

Talkspace (NASDAQ:TALK) last announced its earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The business had revenue of $48.72 million for the quarter, compared to the consensus estimate of $49.94 million. On average, equities analysts forecast that Talkspace will post 0.08 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jon R. Cohen acquired 75,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average price of $2.86 per share, with a total value of $214,500.00. Following the purchase, the chief executive officer now owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. This represents a 3.42 % 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 link. Insiders purchased 82,270 shares of company stock worth $235,312 over the last three months. Corporate insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. MetLife Investment Management LLC raised its position in Talkspace by 27.1% in the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after acquiring an additional 8,764 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Talkspace by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company’s stock worth $1,203,000 after purchasing an additional 10,835 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Talkspace by 27.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company’s stock worth $156,000 after purchasing an additional 10,849 shares in the last quarter. ProShare Advisors LLC lifted its stake in Talkspace by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 34,622 shares of the company’s stock valued at $107,000 after purchasing an additional 11,392 shares during the last quarter. Finally, Cibc World Markets Corp bought a new stake in Talkspace during the fourth quarter worth approximately $36,000. 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.