Talkspace, Inc. (NASDAQ:TALK) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned an average rating of “Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.38.

A number of research firms have recently weighed in on TALK. Mizuho began coverage on shares of Talkspace in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company. KeyCorp began coverage on shares of Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective for the company. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. Finally, Northland Securities began coverage on shares of Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective for the company.

Insider Buying and Selling

In related news, CEO Jon R. Cohen purchased 75,000 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the transaction, the chief executive officer now owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. This trade represents a 3.42 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Over the last quarter, insiders purchased 82,270 shares of company stock valued at $235,312. Insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Talkspace

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sugar Maple Asset Management LLC purchased a new stake in Talkspace during the third quarter worth approximately $33,000. Cibc World Markets Corp purchased a new stake in Talkspace during the fourth quarter worth approximately $36,000. Belvedere Trading LLC purchased a new stake in Talkspace during the fourth quarter worth approximately $37,000. Ameriprise Financial Inc. purchased a new stake in Talkspace during the fourth quarter worth approximately $53,000. Finally, Creative Planning grew its stake in Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after buying an additional 6,179 shares during the period. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Trading Down 2.8 %

Shares of TALK opened at $2.76 on Friday. The stock has a market cap of $466.23 million, a P/E ratio of 276.28 and a beta of 1.15. The company has a 50-day moving average of $3.22 and a two-hundred day moving average of $2.91. Talkspace has a 12-month low of $1.60 and a 12-month high of $4.36.

Talkspace (NASDAQ:TALK) last announced its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $48.72 million during the quarter, compared to analysts’ expectations of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. As a group, analysts forecast that Talkspace will post 0.08 EPS 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.