Talkspace (NASDAQ:TALK) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Talkspace (NASDAQ:TALK) to a strong-buy rating in a report issued on Wednesday morning,Zacks.com reports.

A number of other research firms have also weighed in on TALK. Barclays upped their target price 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. Northland Securities assumed coverage on shares of Talkspace in a report on Wednesday. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $4.00.

Talkspace Stock Performance

Shares of NASDAQ TALK opened at $3.31 on Wednesday. Talkspace has a 52-week low of $1.60 and a 52-week high of $3.92. The company’s 50 day moving average price is $2.64 and its 200-day moving average price is $2.36. The company has a market capitalization of $559.13 million, a P/E ratio of -331.00 and a beta of 1.11.

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

Insider Activity at Talkspace

In related news, CFO Ian Jiro Harris purchased 19,500 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was purchased at an average cost of $2.20 per share, with a total value of $42,900.00. Following the completion of the acquisition, the chief financial officer now directly owns 347,057 shares of the company’s stock, valued at approximately $763,525.40. The trade was a 5.95 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 21.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Talkspace

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its stake in Talkspace by 2,480.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock worth $814,000 after purchasing an additional 340,030 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Talkspace in the second quarter worth $921,000. Divisadero Street Capital Management LP boosted its stake in Talkspace by 13.2% during the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock valued at $7,157,000 after buying an additional 361,717 shares during the period. Vanguard Group Inc. grew its position in Talkspace by 1.5% during the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock worth $21,012,000 after buying an additional 84,933 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in shares of Talkspace in the 3rd quarter valued at about $1,045,000. 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.