Talkspace (NASDAQ:TALK) Price Target Raised to $3.00

Talkspace (NASDAQ:TALK) had its target price hoisted by Barclays from $2.00 to $3.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an equal weight rating on the stock.

Separately, Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Tuesday, August 6th.

Talkspace Price Performance

TALK opened at $3.13 on Tuesday. Talkspace has a 12-month low of $1.41 and a 12-month high of $3.92. The firm has a 50 day moving average of $2.23 and a two-hundred day moving average of $2.35.

Talkspace (NASDAQ:TALK) last posted its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $47.40 million during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted ($0.03) earnings per share. As a group, sell-side analysts predict that Talkspace will post -0.03 earnings per share for the current year.

Insider Activity at Talkspace

In other Talkspace news, CFO Ian Jiro Harris bought 23,100 shares of the stock in a transaction on Thursday, September 19th. The shares were bought at an average price of $2.11 per share, with a total value of $48,741.00. Following the purchase, the chief financial officer now directly owns 397,657 shares in the company, valued at $839,056.27. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 21.70% of the stock is owned by corporate insiders.

Institutional Trading of Talkspace

A number of hedge funds have recently bought and sold shares of TALK. Bank of New York Mellon Corp grew its position in shares of Talkspace by 2,480.3% in 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 purchased a new stake in shares of Talkspace in the 2nd quarter valued at approximately $921,000. Divisadero Street Capital Management LP increased its holdings in shares of Talkspace by 13.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after buying an additional 361,717 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Talkspace by 1.5% in the first quarter. Vanguard Group Inc. now owns 5,885,681 shares of the company’s stock valued at $21,012,000 after acquiring an additional 84,933 shares during the last quarter. Finally, Advisory Alpha LLC purchased a new position in Talkspace in the first quarter worth approximately $296,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

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.