Talkspace, Inc. (NASDAQ:TALK) Receives Consensus Rating of “Buy” from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned an average recommendation of “Buy” from the six research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.38.

A number of research analysts recently weighed in on the company. KeyCorp assumed coverage on Talkspace in a research report on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective for the company. Barclays increased their price objective on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 29th. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Northland Securities assumed coverage on shares of Talkspace in a report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target on the stock. Finally, Mizuho initiated coverage on shares of Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company.

Institutional Investors Weigh In On Talkspace

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its holdings in shares of Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after buying an additional 6,179 shares during the period. MetLife Investment Management LLC lifted its holdings in Talkspace by 27.1% in the third quarter. MetLife Investment Management LLC now owns 41,140 shares of the company’s stock valued at $86,000 after acquiring an additional 8,764 shares during the period. Aigen Investment Management LP boosted its position in Talkspace by 37.8% in the third quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after purchasing an additional 9,766 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Talkspace during the 3rd quarter valued at about $33,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Talkspace during the 2nd quarter valued at about $38,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Trading Up 2.9 %

Shares of NASDAQ TALK opened at $3.22 on Friday. The firm has a fifty day simple moving average of $3.24 and a two-hundred day simple moving average of $2.50. Talkspace has a 12 month low of $1.60 and a 12 month high of $3.92. The firm has a market capitalization of $543.93 million, a PE ratio of -322.00 and a beta of 1.12.

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

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.