Talkspace (NASDAQ:TALK) Coverage Initiated at Northland Securities

Equities researchers at Northland Securities initiated coverage on shares of Talkspace (NASDAQ:TALK) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $5.00 price target on the stock. Northland Securities’ price target indicates a potential upside of 56.25% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Barclays boosted their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th.

Talkspace Trading Up 3.6 %

TALK stock opened at $3.20 on Wednesday. Talkspace has a 1-year low of $1.60 and a 1-year high of $3.92. The stock has a 50-day moving average price of $2.61 and a 200-day moving average price of $2.36. The firm has a market cap of $540.54 million, a PE ratio of -320.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The business had revenue of $47.40 million during the quarter, compared to analyst estimates of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. During the same quarter in the previous year, the business posted ($0.03) EPS. On average, analysts forecast that Talkspace will post -0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Talkspace news, CFO Ian Jiro Harris acquired 23,100 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was bought at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the purchase, the chief financial officer now owns 397,657 shares of the company’s stock, valued at approximately $839,056.27. This represents a 6.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.70% of the stock is owned by corporate insiders.

Institutional Trading of Talkspace

Institutional investors and hedge funds have recently modified their holdings of the business. Sugar Maple Asset Management LLC purchased a new position in shares of Talkspace during the third quarter worth about $33,000. Principal Financial Group Inc. bought a new stake in Talkspace during the second quarter valued at approximately $38,000. Creative Planning grew its stake in Talkspace by 30.6% in the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after buying an additional 6,179 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Talkspace in the 3rd quarter worth $56,000. Finally, Virtu Financial LLC purchased a new stake in shares of Talkspace during the 1st quarter valued at $74,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.