Talkspace, Inc. (NASDAQ:TALK) Receives $4.38 Consensus Price Target from Brokerages

Talkspace, Inc. (NASDAQ:TALK) has been given an average recommendation of “Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $4.38.

Several research analysts recently weighed in on the stock. 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. Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 target price for the company. Northland Securities began coverage on Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th.

Talkspace Stock Up 2.9 %

NASDAQ TALK opened at $3.22 on Friday. Talkspace has a 52 week low of $1.60 and a 52 week high of $3.92. The company has a market capitalization of $543.93 million, a P/E ratio of -322.00 and a beta of 1.12. The stock’s 50-day moving average price is $3.24 and its 200-day moving average price is $2.50.

Talkspace (NASDAQ:TALK) last released its earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The company had revenue of $47.40 million for the quarter, compared to analysts’ expectations 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 last year, the business earned ($0.03) EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Talkspace by 2,480.3% during the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock valued at $814,000 after purchasing an additional 340,030 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of Talkspace in the 2nd quarter valued at about $921,000. Divisadero Street Capital Management LP grew its position in Talkspace by 13.2% in the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after acquiring an additional 361,717 shares in the last quarter. Royce & Associates LP bought a new stake in Talkspace during the third quarter worth approximately $1,045,000. Finally, State Street Corp increased its stake in Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after acquiring an additional 580,826 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.

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.