Talkspace (NASDAQ:TALK) Earns Outperform Rating from Analysts at Northland Securities

Equities research analysts at Northland Securities assumed coverage on shares of Talkspace (NASDAQ:TALK) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $5.00 price target on the stock. Northland Securities’ target price would suggest a potential upside of 56.25% from the stock’s current price.

A number of other analysts have also recently issued reports on the stock. Barclays raised their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th.

Talkspace Trading Up 3.6 %

Shares of TALK opened at $3.20 on Wednesday. Talkspace has a 12 month low of $1.60 and a 12 month high of $3.92. The firm has a fifty day simple moving average of $2.61 and a 200 day simple moving average of $2.36. The stock has a market capitalization of $540.54 million, a price-to-earnings ratio of -320.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The company 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 last year, the company earned ($0.03) EPS. As a group, research analysts predict that Talkspace will post -0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Talkspace news, CFO Ian Jiro Harris acquired 23,100 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average price of $2.11 per share, with a total value of $48,741.00. Following the acquisition, the chief financial officer now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

A number of hedge funds and other institutional investors have recently made changes to their positions in TALK. Bank of New York Mellon Corp grew its position in Talkspace by 2,480.3% during the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after buying an additional 340,030 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Talkspace in the second quarter valued at approximately $921,000. Divisadero Street Capital Management LP raised its stake in shares of Talkspace by 13.2% during the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock valued at $7,157,000 after acquiring an additional 361,717 shares during the last quarter. Vanguard Group Inc. increased its holdings in Talkspace by 1.5% in the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after purchasing an additional 84,933 shares during the period. Finally, Principal Financial Group Inc. acquired a new stake in Talkspace in the second quarter valued at $38,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.