Talkspace, Inc. (NASDAQ:TALK) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have received a consensus rating of “Moderate Buy” from the four research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.00.

TALK has been the subject of several recent analyst reports. Mizuho initiated coverage on Talkspace in a research note on Wednesday. They issued an “outperform” rating and a $5.00 price target for the company. Northland Securities initiated coverage on Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target for the company. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Finally, Barclays upped their price objective on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th.

Talkspace Trading Down 1.4 %

Shares of NASDAQ:TALK opened at $3.42 on Wednesday. The stock has a fifty day simple moving average of $2.89 and a two-hundred day simple moving average of $2.40. The stock has a market capitalization of $577.71 million, a price-to-earnings ratio of -342.00 and a beta of 1.12. Talkspace has a 12-month low of $1.60 and a 12-month high of $3.92.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. During the same quarter in the previous year, the business earned ($0.03) earnings per share. As a group, equities research analysts predict that Talkspace will post -0.02 EPS for the current year.

Insider Buying and Selling at Talkspace

In related news, CFO Ian Jiro Harris purchased 23,100 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was acquired at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the acquisition, the chief financial officer now owns 397,657 shares of the company’s stock, valued at approximately $839,056.27. This trade 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

A number of hedge funds have recently made changes to their positions in TALK. Vanguard Group Inc. boosted its stake in shares of Talkspace by 1.5% in the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock worth $21,012,000 after acquiring an additional 84,933 shares during the period. Virtu Financial LLC bought a new position in shares of Talkspace in the first quarter worth about $74,000. Bank of New York Mellon Corp boosted its stake in shares of Talkspace by 2,480.3% in the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after acquiring an additional 340,030 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Talkspace in the second quarter worth about $264,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Talkspace in the second quarter worth about $38,000. Institutional investors own 57.37% of the company’s stock.

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.