Needham & Company LLC Reiterates “Hold” Rating for Talkspace (NASDAQ:TALK)

Talkspace (NASDAQ:TALK)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Friday,Benzinga reports.

Several other equities research analysts have also recently issued reports on the stock. KeyCorp initiated coverage on shares of Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 target price on the stock. Northland Securities started coverage on shares of Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target on the stock. Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Barclays boosted their target price on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Finally, Mizuho assumed coverage on Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target for the company. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $4.38.

Talkspace Stock Down 14.8 %

TALK stock opened at $3.29 on Friday. Talkspace has a 52 week low of $1.60 and a 52 week high of $4.36. The firm has a 50-day simple moving average of $3.30 and a 200-day simple moving average of $2.79. The stock has a market capitalization of $555.76 million, a P/E ratio of -329.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. On average, analysts expect that Talkspace will post 0.02 earnings per share for the current year.

Institutional Investors Weigh In On Talkspace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Talkspace by 448.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock worth $1,101,000 after purchasing an additional 430,861 shares during the period. Evernest Financial Advisors LLC acquired a new stake in shares of Talkspace during the fourth quarter valued at about $337,000. Royce & Associates LP acquired a new stake in shares of Talkspace during the third quarter valued at about $1,045,000. Barclays PLC raised its stake in shares of Talkspace by 322.3% in 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 during the period. Finally, State Street Corp lifted its holdings in shares of Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after acquiring an additional 580,826 shares during the last quarter. Institutional investors and hedge funds 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.