KeyCorp Initiates Coverage on Talkspace (NASDAQ:TALK)

Analysts at KeyCorp began coverage on shares of Talkspace (NASDAQ:TALK) in a research note issued on Monday, Marketbeat Ratings reports. The firm set an “overweight” rating and a $4.50 price target on the stock. KeyCorp’s price objective indicates a potential upside of 30.06% from the stock’s previous close.

A number of other equities analysts also recently commented on TALK. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Mizuho began coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. Northland Securities initiated coverage on shares of Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Finally, Barclays increased their price objective on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $4.38.

Talkspace Price Performance

TALK stock opened at $3.46 on Monday. Talkspace has a 1 year low of $1.60 and a 1 year high of $3.92. The firm has a market capitalization of $584.47 million, a PE ratio of -346.00 and a beta of 1.12. The business has a 50 day simple moving average of $3.03 and a 200-day simple moving average of $2.42.

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

Insider Activity

In related news, CFO Ian Jiro Harris purchased 23,100 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $2.11 per share, for a total transaction of $48,741.00. Following the acquisition, the chief financial officer now directly owns 397,657 shares in the company, valued at $839,056.27. This trade represents a 6.17 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 21.70% of the company’s stock.

Institutional Trading of Talkspace

Several hedge funds have recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC acquired a new position in shares of Talkspace during the 3rd quarter worth about $33,000. Principal Financial Group Inc. purchased a new stake in Talkspace in the 2nd quarter valued at approximately $38,000. Creative Planning grew its holdings 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 acquiring an additional 6,179 shares during the period. Intech Investment Management LLC acquired a new position in shares of Talkspace during the 3rd quarter worth $56,000. Finally, Aigen Investment Management LP grew its position in Talkspace by 37.8% during the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after buying an additional 9,766 shares during the period. Institutional investors and hedge funds 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.