Talkspace, Inc. (NASDAQ:TALK) Receives $4.00 Consensus PT from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have earned a consensus recommendation of “Buy” from the six research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $4.38.

Several research firms recently issued reports on TALK. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Mizuho initiated coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective on the stock. Northland Securities started coverage on shares of Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective for the company. Barclays lifted their target price on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th.

Insider Buying and Selling at Talkspace

In related news, CFO Ian Jiro Harris bought 23,100 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the transaction, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at $839,056.27. This represents a 6.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TALK. Sugar Maple Asset Management LLC acquired a new stake in shares of Talkspace in the 3rd quarter valued at $33,000. Principal Financial Group Inc. acquired a new position in Talkspace in the second quarter valued at about $38,000. 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 last quarter. Intech Investment Management LLC acquired a new stake in shares of Talkspace during the third quarter worth approximately $56,000. Finally, Virtu Financial LLC bought a new position in shares of Talkspace in the first quarter valued at approximately $74,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Talkspace Stock Up 1.5 %

Shares of NASDAQ:TALK opened at $3.46 on Wednesday. Talkspace has a 12-month low of $1.60 and a 12-month high of $3.92. The firm has a market capitalization of $584.47 million, a P/E ratio of -346.00 and a beta of 1.12. The firm has a fifty day moving average of $3.03 and a two-hundred day moving average of $2.42.

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

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.