Brokerages Set Talkspace, Inc. (NASDAQ:TALK) Target Price at $4.38

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) has been given a consensus rating of "Buy" by the six research firms that are covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $4.38.

A number of equities analysts have commented on the stock. Mizuho began coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 target price on the stock. KeyCorp started coverage on shares of Talkspace in a research report on Monday, December 9th. They set an "overweight" rating and a $4.50 target price for the company. Barclays upped their price target on shares of Talkspace from $2.00 to $3.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 29th. Northland Securities initiated coverage on shares of Talkspace in a research note on Wednesday, November 20th. They issued an "outperform" rating and a $5.00 price objective on the stock. Finally, Northland Capmk upgraded shares of Talkspace to a "strong-buy" rating in a research note on Wednesday, November 20th.

Talkspace Price Performance

Shares of Talkspace stock traded up $0.02 during trading hours on Thursday, reaching $3.18. The company's stock had a trading volume of 665,715 shares, compared to its average volume of 1,025,903. The firm has a 50 day moving average price of $3.20 and a 200-day moving average price of $2.58. Talkspace has a one year low of $1.60 and a one year high of $3.92. The stock has a market cap of $536.83 million, a P/E ratio of -317.50 and a beta of 1.14.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. The company had revenue of $47.40 million for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted ($0.03) EPS. As a group, sell-side analysts forecast that Talkspace will post 0.02 EPS for the current fiscal year.

Institutional Trading of Talkspace

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TALK. State Street Corp lifted its holdings in Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company's stock valued at $4,549,000 after purchasing an additional 580,826 shares in the last quarter. Royce & Associates LP purchased a new position in Talkspace during the third quarter valued at $1,045,000. JPMorgan Chase & Co. lifted its holdings in Talkspace by 448.3% during the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company's stock valued at $1,101,000 after purchasing an additional 430,861 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Talkspace during the second quarter valued at $921,000. Finally, Clearline Capital LP lifted its holdings in Talkspace by 28.1% during the third quarter. Clearline Capital LP now owns 1,248,756 shares of the company's stock valued at $2,610,000 after purchasing an additional 273,994 shares in the last quarter. Institutional investors and hedge funds 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.