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

Talkspace, Inc. (NASDAQ:TALK) has earned an average rating of “Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.38.

Several analysts have issued reports on the company. Northland Securities initiated coverage on Talkspace in a report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective on the stock. KeyCorp began coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective for the company. Barclays boosted their target price on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Mizuho initiated coverage on Talkspace in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Northland Capmk raised Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th.

Talkspace Price Performance

TALK stock opened at $3.15 on Friday. The firm has a market cap of $532.11 million, a PE ratio of -315.00 and a beta of 1.12. Talkspace has a 12 month low of $1.60 and a 12 month high of $3.92. The firm has a 50 day simple moving average of $3.21 and a 200 day simple moving average of $2.47.

Talkspace (NASDAQ:TALK) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The business 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 period last year, the company posted ($0.03) EPS.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after buying an additional 580,826 shares during the last quarter. Royce & Associates LP bought a new position in Talkspace during the third quarter valued at approximately $1,045,000. JPMorgan Chase & Co. lifted its stake in Talkspace by 448.3% in the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after acquiring an additional 430,861 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Talkspace in the second quarter worth approximately $921,000. Finally, Divisadero Street Capital Management LP increased its stake in shares of Talkspace by 13.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after purchasing an additional 361,717 shares during the last quarter. 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.