Talkspace (NASDAQ:TALK) Hits New 1-Year High – Here’s What Happened

Talkspace, Inc. (NASDAQ:TALK)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $4.32 and last traded at $4.09, with a volume of 68696 shares changing hands. The stock had previously closed at $4.08.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on TALK shares. Barclays boosted their target price on Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a report on Tuesday, October 29th. KeyCorp initiated coverage on Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective for the company. Northland Capmk raised Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Northland Securities initiated coverage on Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $4.38.

Talkspace Stock Performance

The firm has a fifty day moving average price of $3.28 and a 200 day moving average price of $2.77. The firm has a market capitalization of $696.80 million, a price-to-earnings ratio of -409.50 and a beta of 1.14.

Hedge Funds Weigh In On Talkspace

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Talkspace by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company’s stock valued at $22,189,000 after purchasing an additional 315,741 shares in the last quarter. Deutsche Bank AG increased its stake in Talkspace by 103.1% in the 4th quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock valued at $14,262,000 after purchasing an additional 2,342,913 shares in the last quarter. Geode Capital Management LLC increased its stake in Talkspace by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company’s stock valued at $9,512,000 after purchasing an additional 63,072 shares in the last quarter. State Street Corp increased its stake in Talkspace by 36.4% in the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after purchasing an additional 580,826 shares in the last quarter. Finally, Voss Capital LP purchased a new position in Talkspace in the 4th quarter valued at approximately $3,981,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.