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

Talkspace, Inc. (NASDAQ:TALK) has been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $4.38.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TALK. The Manufacturers Life Insurance Company acquired a new position in Talkspace in the second quarter worth approximately $113,000. SG Americas Securities LLC acquired a new position in shares of Talkspace during the third quarter worth approximately $99,000. Creative Planning boosted its position in shares of Talkspace by 30.6% in the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after acquiring an additional 6,179 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in shares of Talkspace in the third quarter worth $84,000. Finally, Aigen Investment Management LP increased its holdings in shares of Talkspace by 37.8% during the 3rd quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after purchasing an additional 9,766 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

Talkspace Price Performance

Shares of TALK opened at $3.01 on Monday. The stock has a market capitalization of $508.45 million, a P/E ratio of 301.30 and a beta of 1.14. Talkspace has a 12-month low of $1.60 and a 12-month high of $4.36. The firm’s 50 day moving average is $3.30 and its 200-day moving average is $2.82.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $48.72 million for the quarter, compared to the consensus estimate of $49.94 million. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. As a group, equities research analysts forecast that Talkspace will post 0.08 EPS for the current fiscal year.

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.