Talkspace, Inc. (NASDAQ:TALK) Receives Average Recommendation of “Buy” from Brokerages

Talkspace, Inc. (NASDAQ:TALK) has received an average recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $4.38.

A number of brokerages recently commented on TALK. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Northland Securities began coverage on Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Friday. Barclays lifted their target price on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Finally, KeyCorp assumed coverage on Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price on the stock.

Talkspace Price Performance

Shares of Talkspace stock opened at $3.01 on Monday. The business has a fifty day simple moving average of $3.30 and a two-hundred day simple moving average of $2.80. Talkspace has a 1 year low of $1.60 and a 1 year high of $4.36. The company has a market capitalization of $508.46 million, a price-to-earnings ratio of -301.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The firm had revenue of $48.72 million for the quarter, compared to analysts’ expectations of $49.94 million. As a group, equities analysts anticipate that Talkspace will post 0.02 earnings per share for the current fiscal year.

Institutional Trading of Talkspace

Hedge funds have recently made changes to their positions in the company. Sugar Maple Asset Management LLC acquired a new stake in shares of Talkspace during the third quarter valued at about $33,000. Cibc World Markets Corp acquired a new position in shares of Talkspace in the fourth quarter worth approximately $36,000. Belvedere Trading LLC acquired a new position in shares of Talkspace in the fourth quarter worth approximately $37,000. Ameriprise Financial Inc. acquired a new position in shares of Talkspace in the fourth quarter worth approximately $53,000. Finally, Creative Planning lifted its stake in shares of Talkspace by 30.6% in 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. 57.37% of the stock is owned by institutional investors and hedge funds.

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.