Talkspace, Inc. (NASDAQ:TALK) Receives $4.50 Average PT from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have earned an average rating of “Buy” from the seven research firms that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $4.50.

A number of brokerages have weighed in on TALK. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Friday, February 21st. Canaccord Genuity Group assumed coverage on shares of Talkspace in a research note on Thursday, April 3rd. They set a “buy” rating and a $5.00 price objective on the stock.

Insider Activity

In other Talkspace news, CEO Jon R. Cohen bought 75,000 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were purchased at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the transaction, the chief executive officer now directly owns 2,267,980 shares in the company, valued at $6,486,422.80. The trade was a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders bought 82,270 shares of company stock valued at $235,312. 21.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. bought a new position in shares of Talkspace in the first quarter valued at approximately $29,000. Cibc World Markets Corp acquired a new stake in Talkspace in the fourth quarter worth approximately $36,000. Belvedere Trading LLC bought a new position in Talkspace during the 4th quarter valued at $37,000. Ameriprise Financial Inc. acquired a new position in shares of Talkspace during the 4th quarter valued at $53,000. Finally, Intech Investment Management LLC acquired a new position in shares of Talkspace during the 3rd quarter valued at $56,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Stock Down 6.8 %

Shares of Talkspace stock opened at $2.72 on Tuesday. The business has a 50-day moving average price of $3.07 and a 200 day moving average price of $3.03. Talkspace has a fifty-two week low of $1.60 and a fifty-two week high of $4.36. The firm has a market cap of $458.15 million, a P/E ratio of 272.27 and a beta of 1.16.

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

About Talkspace

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.