Talkspace, Inc. (NASDAQ:TALK) Receives Average Recommendation of "Buy" from Analysts

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) has been assigned a consensus rating of "Buy" from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $4.50.

Several equities research analysts recently issued reports on TALK shares. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research report on Friday, February 21st. Canaccord Genuity Group began coverage on shares of Talkspace in a report on Thursday, April 3rd. They set a "buy" rating and a $5.00 target price on the stock.

Talkspace Trading Up 2.2 %

TALK stock traded up $0.06 during mid-day trading on Tuesday, hitting $2.78. 847,419 shares of the company were exchanged, compared to its average volume of 1,826,940. The firm has a fifty day simple moving average of $3.05 and a 200 day simple moving average of $3.04. The company has a market capitalization of $468.25 million, a PE ratio of 278.28 and a beta of 1.16. Talkspace has a twelve month low of $1.60 and a twelve month high of $4.36.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts' consensus estimates of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The business had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. As a group, sell-side analysts anticipate that Talkspace will post 0.08 earnings per share for the current year.

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Insiders Place Their Bets

In other news, CEO Jon R. Cohen bought 75,000 shares of Talkspace stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $2.86 per share, with a total value of $214,500.00. Following the purchase, the chief executive officer now directly owns 2,267,980 shares of the company's stock, valued at approximately $6,486,422.80. This trade represents a 3.42 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have purchased 82,270 shares of company stock valued at $235,312 over the last three months. Company insiders own 21.70% of the company's stock.

Institutional Investors Weigh In On Talkspace

A number of hedge funds have recently made changes to their positions in TALK. Financial Management Professionals Inc. bought a new position in Talkspace in the 1st quarter worth approximately $29,000. Cibc World Markets Corp bought a new position in shares of Talkspace in the fourth quarter worth $36,000. Belvedere Trading LLC acquired a new position in shares of Talkspace during the fourth quarter valued at $37,000. Ameriprise Financial Inc. bought a new stake in shares of Talkspace during the fourth quarter valued at about $53,000. Finally, Intech Investment Management LLC acquired a new stake in Talkspace in the third quarter worth about $56,000. Institutional investors own 57.37% of the company's stock.

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.