Talkspace (NASDAQ:TALK) Upgraded at Northland Capmk

Northland Capmk upgraded shares of Talkspace (NASDAQ:TALK) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports.

TALK has been the subject of several other reports. Northland Securities assumed coverage on Talkspace in a report on Wednesday. They issued an “outperform” rating and a $5.00 price objective for the company. Barclays boosted their price target on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $4.00.

Talkspace Stock Performance

Shares of Talkspace stock opened at $3.45 on Wednesday. The firm has a 50-day moving average of $2.70 and a 200-day moving average of $2.37. Talkspace has a 52-week low of $1.60 and a 52-week high of $3.92. The stock has a market cap of $582.78 million, a PE ratio of -345.00 and a beta of 1.11.

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

Insider Transactions at Talkspace

In other news, CFO Ian Jiro Harris acquired 19,500 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were bought at an average price of $2.20 per share, with a total value of $42,900.00. Following the acquisition, the chief financial officer now directly owns 347,057 shares in the company, valued at $763,525.40. The trade was a 5.95 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Talkspace

Several large investors have recently bought and sold shares of TALK. Creative Planning grew 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 worth $55,000 after purchasing an additional 6,179 shares during the last quarter. MetLife Investment Management LLC raised its holdings in Talkspace by 27.1% in the 3rd quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock valued at $86,000 after buying an additional 8,764 shares during the last quarter. Aigen Investment Management LP boosted its position 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 buying an additional 9,766 shares during the period. Sugar Maple Asset Management LLC bought a new stake in Talkspace during the 3rd quarter worth approximately $33,000. Finally, Principal Financial Group Inc. acquired a new position in Talkspace in the 2nd quarter valued at approximately $38,000. 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.