Talkspace (NASDAQ:TALK) Stock Rating Upgraded by Northland Capmk

Northland Capmk upgraded shares of Talkspace (NASDAQ:TALK) to a strong-buy rating in a research note published on Wednesday morning,Zacks.com reports.

TALK has been the subject of several other research reports. Barclays lifted their price target on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. Northland Securities initiated coverage on shares of Talkspace in a report on Wednesday. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Talkspace Stock Performance

Shares of NASDAQ TALK opened at $3.45 on Wednesday. The firm’s 50 day moving average price is $2.67 and its 200 day moving average price is $2.37. The firm has a market cap of $582.77 million, a P/E ratio of -352.00 and a beta of 1.11. Talkspace has a 1 year low of $1.60 and a 1 year high of $3.92.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $47.40 million for 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 last year, the firm earned ($0.03) earnings per share. As a group, equities analysts predict that Talkspace will post -0.03 EPS for the current year.

Insider Buying and Selling

In related news, CFO Ian Jiro Harris bought 23,100 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was bought at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the transaction, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at approximately $839,056.27. This represents a 6.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Talkspace

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sugar Maple Asset Management LLC acquired a new stake in Talkspace in the third quarter valued at approximately $33,000. Principal Financial Group Inc. purchased a new stake in Talkspace during the 2nd quarter worth $38,000. Creative Planning increased its stake in Talkspace by 30.6% during the 3rd 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. Intech Investment Management LLC acquired a new position in Talkspace in the 3rd quarter worth $56,000. Finally, Virtu Financial LLC purchased a new position in Talkspace in the 1st quarter valued at about $74,000. 57.37% of the stock is owned by institutional investors and hedge funds.

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.