Talkspace, Inc. (NASDAQ:TALK) Receives $4.38 Average Price Target from Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given a consensus recommendation of “Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $4.38.

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

Talkspace Stock Up 3.3 %

Shares of TALK opened at $2.85 on Friday. Talkspace has a 12-month low of $1.60 and a 12-month high of $4.36. The firm has a market capitalization of $480.05 million, a price-to-earnings ratio of 285.29 and a beta of 1.15. The stock’s 50-day moving average price is $3.21 and its 200 day moving average price is $2.93.

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

Insider Transactions at Talkspace

In related news, CEO Jon R. Cohen purchased 75,000 shares of the business’s stock in a transaction dated 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 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 filing with the SEC, which is available at this link. Insiders have acquired 82,270 shares of company stock valued at $235,312 in the last three months. 21.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in shares of Talkspace by 448.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after buying an additional 430,861 shares in the last quarter. Evernest Financial Advisors LLC bought a new position in Talkspace during the 4th quarter worth about $337,000. Royce & Associates LP bought a new position in Talkspace during the 3rd quarter worth about $1,045,000. Barclays PLC increased its holdings in Talkspace by 322.3% during the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after purchasing an additional 134,313 shares in the last quarter. Finally, State Street Corp increased its holdings in Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after purchasing an additional 580,826 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.