Talkspace, Inc. (NASDAQ:TALK) Receives $4.38 Average Price Target from Analysts

Talkspace, Inc. (NASDAQ:TALK) has been assigned a consensus rating of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $4.38.

A number of brokerages recently commented on TALK. KeyCorp started coverage on Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective for the company. Barclays increased their price target on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Mizuho started coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Friday. Finally, Northland Capmk upgraded Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th.

Talkspace Trading Down 8.5 %

Shares of NASDAQ TALK opened at $3.01 on Monday. The company has a market cap of $508.45 million, a PE ratio of 301.30 and a beta of 1.14. The company has a 50-day moving average of $3.30 and a two-hundred day moving average of $2.82. Talkspace has a 1-year low of $1.60 and a 1-year high of $4.36.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The firm had revenue of $48.72 million during the quarter, compared to analyst estimates of $49.94 million. As a group, equities research analysts forecast that Talkspace will post 0.08 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of TALK. Deutsche Bank AG raised its stake in shares of Talkspace by 103.1% during the 4th quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock worth $14,262,000 after purchasing an additional 2,342,913 shares in the last quarter. Voss Capital LP bought a new stake in Talkspace during the fourth quarter worth $3,981,000. Arrowstreet Capital Limited Partnership acquired a new stake in Talkspace in the fourth quarter valued at $3,371,000. Balyasny Asset Management L.P. bought a new position in shares of Talkspace in the 4th quarter valued at about $3,179,000. Finally, Metavasi Capital LP bought a new position in shares of Talkspace in the 4th quarter valued at about $2,295,000. 57.37% of the stock is currently owned by institutional investors.

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.