Talkspace, Inc. (NASDAQ:TALK) Receives $4.38 Average Price Target from Analysts

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

TALK has been the topic of several analyst reports. Mizuho assumed coverage on shares of Talkspace in a research note on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price target on the stock. Barclays raised their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Northland Securities assumed coverage on Talkspace in a report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target for the company. KeyCorp began coverage on Talkspace in a report on Monday, December 9th. They set an “overweight” rating and a $4.50 price objective on the stock. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TALK. JPMorgan Chase & Co. raised its holdings in shares of Talkspace by 448.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock worth $1,101,000 after purchasing an additional 430,861 shares during the period. Barclays PLC increased its position in Talkspace by 322.3% during the 3rd quarter. Barclays PLC now owns 175,990 shares of the company’s stock worth $368,000 after purchasing an additional 134,313 shares in the last quarter. State Street Corp raised its holdings in Talkspace by 36.4% in the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after buying an additional 580,826 shares during the period. Clearline Capital LP lifted its position in Talkspace by 28.1% during the third quarter. Clearline Capital LP now owns 1,248,756 shares of the company’s stock valued at $2,610,000 after buying an additional 273,994 shares in the last quarter. Finally, Josh Arnold Investment Consultant LLC purchased a new stake in Talkspace during the third quarter worth approximately $125,000. Institutional investors and hedge funds own 57.37% of the company’s stock.

Talkspace Price Performance

Shares of TALK opened at $3.13 on Friday. Talkspace has a 1-year low of $1.60 and a 1-year high of $3.92. The firm has a 50 day simple moving average of $3.23 and a 200-day simple moving average of $2.49. The stock has a market cap of $528.73 million, a price-to-earnings ratio of -313.00 and a beta of 1.12.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The company had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same period in the previous year, the firm posted ($0.03) earnings per share.

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.