Talkspace (NASDAQ:TALK) Shares Gap Up – Time to Buy?

Shares of Talkspace, Inc. (NASDAQ:TALK) gapped up prior to trading on Wednesday . The stock had previously closed at $2.83, but opened at $3.03. Talkspace shares last traded at $2.96, with a volume of 266,886 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TALK shares. Mizuho assumed coverage on shares of Talkspace in a report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price target on the stock. KeyCorp began coverage on Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price target for the company. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Barclays boosted their target price on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Northland Securities assumed coverage on Talkspace in a report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $4.38.

Talkspace Stock Performance

The stock has a market cap of $493.26 million, a P/E ratio of -292.00 and a beta of 1.14. The firm has a 50 day moving average of $3.23 and a two-hundred day moving average of $2.54.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The company had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same period in the prior year, the business earned ($0.03) earnings per share.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Sugar Maple Asset Management LLC acquired a new stake in Talkspace during the third 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. Creative Planning raised 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 valued at $55,000 after purchasing an additional 6,179 shares in the last quarter. Intech Investment Management LLC bought a new position in Talkspace in the third quarter worth $56,000. Finally, Aigen Investment Management LP boosted its stake in Talkspace by 37.8% during the third 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 in the last quarter. 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.