Talkspace (NASDAQ:TALK) Reaches New 12-Month High – Still a Buy?

Talkspace, Inc. (NASDAQ:TALK) shares hit a new 52-week high on Monday . The stock traded as high as $4.15 and last traded at $3.99, with a volume of 602985 shares. The stock had previously closed at $3.85.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. KeyCorp began coverage on Talkspace in a report on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Mizuho began coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Northland Securities started coverage on shares of Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target on the stock. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $4.38.

Talkspace Stock Up 3.8 %

The stock has a market capitalization of $674.84 million, a price-to-earnings ratio of -399.40 and a beta of 1.14. The firm has a fifty day moving average of $3.21 and a 200-day moving average of $2.68.

Institutional Trading of Talkspace

Large investors have recently modified their holdings of the business. State Street Corp increased 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 worth $4,549,000 after purchasing an additional 580,826 shares during the last quarter. Royce & Associates LP acquired a new stake in Talkspace during the third quarter worth about $1,045,000. JPMorgan Chase & Co. raised its holdings in shares of Talkspace by 448.3% in 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. Dimensional Fund Advisors LP acquired a new position in shares of Talkspace in the 2nd quarter valued at about $921,000. Finally, Clearline Capital LP lifted its stake in shares of Talkspace by 28.1% in the 3rd 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. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.