Talkspace (NASDAQ:TALK) Coverage Initiated by Analysts at Canaccord Genuity Group

Canaccord Genuity Group initiated coverage on shares of Talkspace (NASDAQ:TALK - Free Report) in a report released on Thursday, Marketbeat reports. The firm issued a buy rating and a $5.00 price target on the stock.

A number of other analysts also recently issued reports on TALK. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a report on Friday, February 21st. KeyCorp started coverage on Talkspace in a research note on Monday, December 9th. They set an "overweight" rating and a $4.50 target price for the company. Finally, Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 target price on the stock. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Talkspace currently has a consensus rating of "Buy" and an average target price of $4.50.

Talkspace Stock Performance

Shares of TALK stock traded up $0.10 during trading hours on Thursday, reaching $2.75. The company had a trading volume of 1,140,733 shares, compared to its average volume of 1,829,949. Talkspace has a 12-month low of $1.60 and a 12-month high of $4.36. The company has a market capitalization of $462.36 million, a price-to-earnings ratio of 274.87 and a beta of 1.16. The stock has a fifty day moving average of $3.10 and a 200-day moving average of $3.02.

Remove Ads

Talkspace (NASDAQ:TALK - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The company had revenue of $48.72 million during the quarter, compared to analysts' expectations of $49.94 million. On average, analysts forecast that Talkspace will post 0.08 EPS for the current year.

Insider Buying and Selling at Talkspace

In other Talkspace news, CEO Jon R. Cohen purchased 75,000 shares of Talkspace stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the transaction, the chief executive officer now owns 2,267,980 shares of the company's stock, valued at $6,486,422.80. This trade represents a 3.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have bought a total of 82,270 shares of company stock valued at $235,312 over the last quarter. 21.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Talkspace

Several large investors have recently added to or reduced their stakes in TALK. Cibc World Markets Corp acquired a new position in shares of Talkspace in the fourth quarter worth $36,000. Belvedere Trading LLC acquired a new position in Talkspace during the 4th quarter worth $37,000. Ameriprise Financial Inc. acquired a new position in Talkspace during the 4th quarter worth $53,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Talkspace during the 4th quarter worth about $69,000. Finally, Oxford Asset Management LLP acquired a new stake in Talkspace in the 4th quarter valued at about $71,000. 57.37% of the stock is owned by hedge funds and other 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.