Talkspace (NASDAQ:TALK) Earns Outperform Rating from Analysts at Northland Securities

Equities researchers at Northland Securities started coverage on shares of Talkspace (NASDAQ:TALK) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $5.00 price target on the stock. Northland Securities’ price target would indicate a potential upside of 51.06% from the stock’s current price.

A number of other equities research analysts also recently weighed in on TALK. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. 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.

Talkspace Stock Up 4.7 %

TALK opened at $3.31 on Wednesday. Talkspace has a 52-week low of $1.60 and a 52-week high of $3.92. The company has a 50 day moving average of $2.64 and a two-hundred day moving average of $2.36. The company has a market cap of $559.13 million, a P/E ratio of -334.00 and a beta of 1.11.

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

Insider Buying and Selling

In related news, CFO Ian Jiro Harris bought 23,100 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were bought at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the purchase, the chief financial officer now owns 397,657 shares of the company’s stock, valued at $839,056.27. This represents a 6.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Talkspace

Large investors have recently modified their holdings of the company. Sugar Maple Asset Management LLC bought a new position in Talkspace in the 3rd quarter worth about $33,000. Principal Financial Group Inc. bought a new stake in shares of Talkspace during the second quarter valued at approximately $38,000. Virtu Financial LLC acquired a new position in shares of Talkspace during the first quarter worth approximately $74,000. Creative Planning grew its holdings in Talkspace by 30.6% in 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 in the last quarter. Finally, Intech Investment Management LLC bought a new position in Talkspace in the 3rd quarter worth approximately $56,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.