Canaccord Genuity Group Begins Coverage on Talkspace (NASDAQ:TALK)

Canaccord Genuity Group assumed coverage on shares of Talkspace (NASDAQ:TALK) in a report released on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $5.00 target price on the stock.

TALK has been the topic of several other reports. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a report on Friday, February 21st. Mizuho started coverage on shares of Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target on the stock. Finally, KeyCorp began coverage on Talkspace in a report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price target for the company. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Talkspace currently has a consensus rating of “Buy” and an average target price of $4.50.

Talkspace Stock Down 1.5 %

TALK stock opened at $2.63 on Thursday. The stock’s 50 day moving average is $3.11 and its 200-day moving average is $3.01. Talkspace has a twelve month low of $1.60 and a twelve month high of $4.36. The firm has a market capitalization of $442.99 million, a PE ratio of 263.26 and a beta of 1.16.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share 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 business had revenue of $48.72 million for the quarter, compared to analysts’ expectations of $49.94 million. On average, equities research analysts anticipate that Talkspace will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Talkspace

In other Talkspace news, CEO Jon R. Cohen purchased 75,000 shares of Talkspace stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought 82,270 shares of company stock worth $235,312 over the last 90 days. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Talkspace

Institutional investors and hedge funds have recently made changes to their positions in the business. Intech Investment Management LLC purchased a new stake in Talkspace during the 3rd quarter valued at about $56,000. FMR LLC grew its holdings in shares of Talkspace by 24.2% in the third quarter. FMR LLC now owns 124,085 shares of the company’s stock worth $259,000 after purchasing an additional 24,198 shares during the last quarter. MetLife Investment Management LLC increased its stake in shares of Talkspace by 27.1% in the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock worth $86,000 after buying an additional 8,764 shares during the period. State Street Corp raised 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 valued at $4,549,000 after buying an additional 580,826 shares during the last quarter. Finally, Barclays PLC raised its holdings in Talkspace by 322.3% during the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock valued at $368,000 after buying an additional 134,313 shares during the last quarter. Institutional investors 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.