Talkspace, Inc. (NASDAQ:TALK) Receives $4.38 Consensus PT from Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have earned a consensus rating of “Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $4.38.

Several analysts have commented on the stock. Northland Securities assumed coverage on shares of Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Friday, February 21st. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Mizuho began coverage on Talkspace in a report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company. Finally, KeyCorp assumed coverage on shares of Talkspace in a report on Monday, December 9th. They set an “overweight” rating and a $4.50 target price on the stock.

Insider Buying and Selling

In related news, CEO Jon R. Cohen purchased 75,000 shares of the stock in a transaction dated Friday, February 28th. The stock was purchased at an average price of $2.86 per share, with a total value of $214,500.00. Following the transaction, the chief executive officer now directly owns 2,267,980 shares in the company, valued at $6,486,422.80. This trade represents a 3.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased 82,270 shares of company stock worth $235,312 in the last 90 days. Insiders own 21.70% of the company’s stock.

Institutional Trading of Talkspace

A number of institutional investors and hedge funds have recently bought and sold shares of TALK. Cibc World Markets Corp bought a new position in shares of Talkspace in the fourth quarter worth approximately $36,000. Belvedere Trading LLC bought a new position in Talkspace in the 4th quarter valued at approximately $37,000. Sugar Maple Asset Management LLC bought a new position in Talkspace in the 3rd quarter valued at approximately $33,000. Ameriprise Financial Inc. bought a new stake in shares of Talkspace in the 4th quarter worth $53,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Talkspace in the 4th quarter worth $69,000. 57.37% of the stock is currently owned by institutional investors.

Talkspace Stock Down 4.5 %

Shares of Talkspace stock opened at $2.73 on Friday. The company has a market cap of $459.83 million, a PE ratio of 273.27 and a beta of 1.15. The business has a 50 day moving average of $3.19 and a 200 day moving average of $2.94. Talkspace has a 52 week low of $1.60 and a 52 week high of $4.36.

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

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.