Talkspace (NASDAQ:TALK) Coverage Initiated by Analysts at Mizuho

Research analysts at Mizuho began coverage on shares of Talkspace (NASDAQ:TALK) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $5.00 price target on the stock. Mizuho’s target price indicates a potential upside of 46.20% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Northland Securities began coverage on Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Finally, Barclays increased their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Talkspace has a consensus rating of “Moderate Buy” and an average price target of $4.33.

Talkspace Stock Performance

Talkspace stock opened at $3.42 on Wednesday. The company has a 50 day moving average price of $2.89 and a 200 day moving average price of $2.40. Talkspace has a 52 week low of $1.60 and a 52 week high of $3.92. The firm has a market capitalization of $577.71 million, a price-to-earnings ratio of -342.00 and a beta of 1.12.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results 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 firm had revenue of $47.40 million for the quarter, compared to analyst estimates of $47.50 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. Equities analysts forecast that Talkspace will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Talkspace

In other Talkspace news, CFO Ian Jiro Harris bought 23,100 shares of the stock in a transaction on Thursday, September 19th. The shares were purchased at an average price of $2.11 per share, with a total value of $48,741.00. Following the acquisition, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at $839,056.27. This represents a 6.17 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 21.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Talkspace

Several large investors have recently bought and sold shares of 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 position in Talkspace during the second quarter worth about $38,000. Creative Planning grew its stake in shares of Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares during the period. Intech Investment Management LLC bought a new position in Talkspace during the 3rd quarter valued at about $56,000. Finally, Virtu Financial LLC acquired a new stake in Talkspace during the 1st quarter valued at $74,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.