Talkspace, Inc. (NASDAQ:TALK) Receives Consensus Rating of “Buy” from Brokerages

Talkspace, Inc. (NASDAQ:TALK) has been given an average rating of “Buy” by the six brokerages that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $4.38.

A number of analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 29th. KeyCorp assumed coverage on shares of Talkspace in a research note on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price for the company. Northland Securities assumed coverage on shares of Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price for the company. Finally, Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th.

Talkspace Stock Performance

NASDAQ:TALK opened at $3.18 on Thursday. Talkspace has a fifty-two week low of $1.60 and a fifty-two week high of $3.92. The stock has a market capitalization of $537.17 million, a P/E ratio of -318.00 and a beta of 1.14. The company’s 50-day simple moving average is $3.21 and its 200-day simple moving average is $2.61.

Talkspace (NASDAQ:TALK) last released its quarterly 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 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 period last year, the business earned ($0.03) EPS. On average, research analysts forecast that Talkspace will post 0.02 EPS for the current year.

Institutional Trading of Talkspace

Institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers increased its holdings in shares of Talkspace by 2,357.6% during the 2nd quarter. Rhumbline Advisers now owns 135,215 shares of the company’s stock valued at $311,000 after purchasing an additional 129,713 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Talkspace during the 2nd quarter valued at approximately $921,000. XTX Topco Ltd increased its holdings in shares of Talkspace by 138.9% during the 2nd quarter. XTX Topco Ltd now owns 154,624 shares of the company’s stock valued at $356,000 after purchasing an additional 89,898 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Talkspace by 18.7% during the 2nd quarter. Squarepoint Ops LLC now owns 156,652 shares of the company’s stock valued at $360,000 after purchasing an additional 24,691 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C purchased a new position in shares of Talkspace during the 2nd quarter valued at approximately $204,000. 57.37% of the stock is currently owned by institutional investors and hedge funds.

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.