Talkspace, Inc. (NASDAQ:TALK) Receives $4.38 Consensus PT from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been given an average rating of “Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. Two equities 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 twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $4.38.

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

Talkspace Price Performance

TALK opened at $2.73 on Friday. The firm has a market capitalization of $459.83 million, a P/E ratio of 273.27 and a beta of 1.15. Talkspace has a one year low of $1.60 and a one year high of $4.36. The company has a fifty day moving average price of $3.19 and a 200-day moving average price of $2.94.

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

Insider Activity

In related news, CEO Jon R. Cohen bought 75,000 shares of the stock in a transaction dated Friday, February 28th. The stock was 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 owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders acquired 82,270 shares of company stock valued at $235,312. Corporate insiders own 21.70% of the company’s stock.

Institutional Trading of Talkspace

A number of institutional investors have recently made changes to their positions in TALK. Deutsche Bank AG increased its stake in shares of Talkspace by 103.1% in the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock worth $14,262,000 after buying an additional 2,342,913 shares during the period. Voss Capital LP purchased a new position in shares of Talkspace in the fourth quarter valued at about $3,981,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Talkspace in the fourth quarter valued at about $3,371,000. Balyasny Asset Management L.P. bought a new position in shares of Talkspace during the fourth quarter valued at about $3,179,000. Finally, Metavasi Capital LP purchased a new stake in shares of Talkspace during the fourth quarter worth about $2,295,000. Hedge funds and other 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.