Talkspace (NASDAQ:TALK) Shares Gap Up – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $2.83, but opened at $3.03. Talkspace shares last traded at $2.96, with a volume of 266,886 shares changing hands.

Analyst Upgrades and Downgrades

TALK has been the subject of a number of research analyst reports. Northland Securities initiated coverage on shares of Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 price target for the company. Barclays upped their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Talkspace has an average rating of “Buy” and an average target price of $4.38.

Talkspace Stock Up 3.2 %

The firm’s 50 day moving average is $3.23 and its 200 day moving average is $2.54. The firm has a market capitalization of $493.26 million, a price-to-earnings ratio of -292.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last released its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The company had revenue of $47.40 million during the quarter, compared to analyst estimates of $47.50 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share.

Hedge Funds Weigh In On Talkspace

A number of large investors have recently made changes to their positions in TALK. JPMorgan Chase & Co. increased its stake in 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 during the period. Barclays PLC grew its holdings in shares of 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 acquiring an additional 134,313 shares in the last quarter. State Street Corp boosted its position in Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after purchasing an additional 580,826 shares during the last quarter. Clearline Capital LP grew its stake in Talkspace by 28.1% in the third quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock valued at $2,610,000 after purchasing an additional 273,994 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC acquired a new position in Talkspace in the 3rd quarter worth about $125,000. 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.