Talkspace, Inc. (NASDAQ:TALK) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Talkspace, Inc. (NASDAQ:TALK) have been assigned a consensus rating of “Buy” from the six brokerages that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $4.38.

A number of research firms have recently issued reports on TALK. KeyCorp assumed coverage on Talkspace in a research report on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective on the stock. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Friday, February 21st. Finally, Mizuho started coverage on shares of Talkspace in a report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company.

Talkspace Price Performance

Shares of Talkspace stock opened at $2.77 on Friday. The firm has a fifty day moving average price of $3.18 and a two-hundred day moving average price of $2.94. Talkspace has a fifty-two week low of $1.60 and a fifty-two week high of $4.36. The company has a market cap of $466.57 million, a PE ratio of 277.28 and a beta of 1.15.

Talkspace (NASDAQ:TALK) last released its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. Talkspace had a net margin of 0.61% and a return on equity of 0.98%. The business had revenue of $48.72 million during the quarter, compared to analysts’ expectations of $49.94 million. Analysts expect that Talkspace will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Talkspace

In other news, CEO Jon R. Cohen acquired 75,000 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was bought at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the acquisition, the chief executive officer now owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This represents a 3.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have purchased 82,270 shares of company stock worth $235,312 over the last three months. Company insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

A number of large investors have recently bought and sold shares of the business. Two Sigma Investments LP grew its stake in shares of Talkspace by 14.2% during the fourth quarter. Two Sigma Investments LP now owns 668,723 shares of the company’s stock valued at $2,066,000 after purchasing an additional 82,921 shares during the last quarter. State of Wyoming acquired a new position in shares of Talkspace during the fourth quarter valued at $439,000. Tema Etfs LLC acquired a new stake in Talkspace in the fourth quarter worth about $81,000. ProShare Advisors LLC raised its holdings in Talkspace by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 34,622 shares of the company’s stock worth $107,000 after purchasing an additional 11,392 shares during the last quarter. Finally, Man Group plc acquired a new position in Talkspace during the 4th quarter valued at about $481,000. 57.37% of the stock is currently owned by 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.