Talkspace, Inc. (NASDAQ:TALK) Receives Consensus Rating of “Buy” from Brokerages

Talkspace, Inc. (NASDAQ:TALK) has been assigned an average recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $4.38.

Several equities analysts have commented on TALK shares. Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. KeyCorp started coverage on shares of Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective on the stock. Northland Securities initiated coverage on shares of Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 target price for the company. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Finally, Northland Capmk raised Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th.

Talkspace Price Performance

Shares of NASDAQ TALK opened at $3.16 on Thursday. Talkspace has a 1 year low of $1.60 and a 1 year high of $3.92. The company’s 50-day moving average is $3.20 and its 200 day moving average is $2.58. The stock has a market capitalization of $533.79 million, a P/E ratio of -316.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $47.40 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned ($0.03) EPS. Research analysts anticipate that Talkspace will post 0.02 earnings per share for the current year.

Institutional Investors Weigh In On Talkspace

Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Talkspace by 68.0% during the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company’s stock valued at $245,000 after purchasing an additional 32,080 shares during the last quarter. Sugar Maple Asset Management LLC boosted its position in shares of Talkspace by 75.0% during the fourth quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company’s stock valued at $87,000 after buying an additional 12,000 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in 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 buying an additional 430,861 shares in the last quarter. Barclays PLC raised its position in Talkspace by 322.3% in the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after buying an additional 134,313 shares during the last quarter. Finally, State Street Corp raised its position in Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after buying an additional 580,826 shares during the last quarter. Institutional investors own 57.37% of the company’s stock.

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.