Talkspace (NASDAQ:TALK) Shares Gap Up – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $3.42, but opened at $3.54. Talkspace shares last traded at $3.69, with a volume of 504,974 shares traded.

Analysts Set New Price Targets

TALK has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Mizuho initiated coverage on Talkspace in a research report on Wednesday. They issued an “outperform” rating and a $5.00 price target on the stock. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Barclays raised their price target on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. Finally, Northland Securities initiated coverage on shares of Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 target price for the company. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Talkspace presently has an average rating of “Moderate Buy” and an average target price of $4.33.

Talkspace Price Performance

The firm has a market cap of $601.36 million, a P/E ratio of -369.00 and a beta of 1.12. The company’s 50-day simple moving average is $2.89 and its 200 day simple moving average is $2.40.

Talkspace (NASDAQ:TALK) last released its earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $47.40 million during the quarter, compared to the consensus estimate 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 last year, the company earned ($0.03) earnings per share. Analysts anticipate that Talkspace, Inc. will post -0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Talkspace news, CFO Ian Jiro Harris acquired 19,500 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were purchased at an average cost of $2.20 per share, for a total transaction of $42,900.00. Following the completion of the purchase, the chief financial officer now owns 347,057 shares in the company, valued at approximately $763,525.40. This trade represents a 5.95 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 21.70% of the company’s stock.

Institutional Trading of Talkspace

Institutional investors have recently modified their holdings of the company. Sugar Maple Asset Management LLC acquired a new stake in Talkspace in the third quarter worth about $33,000. Principal Financial Group Inc. purchased a new position in Talkspace during the second quarter worth approximately $38,000. Creative Planning raised its position in Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock worth $55,000 after acquiring an additional 6,179 shares during the period. Intech Investment Management LLC purchased a new position in Talkspace in the 3rd quarter valued at about $56,000. Finally, Virtu Financial LLC purchased a new position in shares of Talkspace in the first quarter valued at approximately $74,000. 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.