Brokerages Set Talkspace, Inc. (NASDAQ:TALK) Price Target at $4.38

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average rating of “Buy” by the six brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $4.38.

Several research analysts have recently commented on TALK shares. Mizuho started coverage on shares of Talkspace in a report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 target price on the stock. KeyCorp started coverage on shares of Talkspace in a report on Monday, December 9th. They set an “overweight” rating and a $4.50 target price on the stock. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Northland Securities started coverage on shares of Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research note on Friday, February 21st.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $2.85 on Friday. Talkspace has a 52-week low of $1.60 and a 52-week high of $4.36. The company has a market capitalization of $480.05 million, a P/E ratio of 285.29 and a beta of 1.15. The company has a 50-day simple moving average of $3.21 and a 200 day simple moving average of $2.93.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. As a group, equities analysts forecast that Talkspace will post 0.08 earnings per share for the current year.

Insider Transactions at Talkspace

In other Talkspace news, CEO Jon R. Cohen acquired 75,000 shares of Talkspace stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the purchase, the chief executive officer now directly owns 2,267,980 shares in the company, valued at $6,486,422.80. This trade represents a 3.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last three months, insiders have bought 82,270 shares of company stock worth $235,312. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Creative Planning raised its holdings in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares during the period. MetLife Investment Management LLC increased its holdings in Talkspace by 27.1% during the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after purchasing an additional 8,764 shares in the last quarter. Aigen Investment Management LP increased its holdings in Talkspace by 37.8% during the 3rd quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after purchasing an additional 9,766 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Talkspace by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company’s stock worth $1,203,000 after purchasing an additional 10,835 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Talkspace by 27.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company’s stock worth $156,000 after purchasing an additional 10,849 shares in the last quarter. 57.37% of the stock is owned by institutional investors.

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.