Talkspace, Inc. (NASDAQ:TALK) Given Consensus Rating of “Moderate Buy” by Analysts

Talkspace, Inc. (NASDAQ:TALK) has earned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $4.33.

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

Talkspace Stock Performance

TALK opened at $3.49 on Wednesday. The stock has a market capitalization of $589.53 million, a price-to-earnings ratio of -349.00 and a beta of 1.12. Talkspace has a fifty-two week low of $1.60 and a fifty-two week high of $3.92. The company has a fifty day moving average of $2.98 and a 200 day moving average of $2.41.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $47.40 million during the quarter, compared to analyst estimates 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 business posted ($0.03) earnings per share. On average, equities research analysts forecast that Talkspace will post -0.02 earnings per share for the current year.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris bought 19,500 shares of Talkspace stock in a transaction on Tuesday, September 17th. The shares were acquired at an average price of $2.20 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now directly owns 347,057 shares in the company, valued at approximately $763,525.40. This trade represents a 5.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State Street Corp increased its holdings in Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after purchasing an additional 580,826 shares during the period. Royce & Associates LP purchased a new position in shares of Talkspace during the third quarter valued at $1,045,000. Dimensional Fund Advisors LP bought a new stake in shares of Talkspace in the second quarter valued at about $921,000. Divisadero Street Capital Management LP lifted its stake in Talkspace by 13.2% in the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after acquiring an additional 361,717 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Talkspace by 2,480.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after acquiring an additional 340,030 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors.

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.