Talkspace (NASDAQ:TALK) Shares Gap Up - What's Next?

Talkspace, Inc. (NASDAQ:TALK - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.83, but opened at $3.03. Talkspace shares last traded at $2.96, with a volume of 266,886 shares traded.

Analysts Set New Price Targets

Several analysts have commented on TALK shares. Northland Securities began coverage on shares of Talkspace in a research note on Wednesday, November 20th. They issued an "outperform" rating and a $5.00 price target on the stock. Barclays boosted their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 29th. Northland Capmk raised shares of Talkspace to a "strong-buy" rating in a report on Wednesday, November 20th. KeyCorp assumed coverage on Talkspace in a research note on Monday, December 9th. They set an "overweight" rating and a $4.50 price objective on the stock. Finally, Mizuho initiated coverage on Talkspace in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $5.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $4.38.

Talkspace Stock Up 3.9 %

The stock's 50 day moving average price is $3.23 and its 200-day moving average price is $2.54. The stock has a market capitalization of $496.63 million, a PE ratio of -294.00 and a beta of 1.14.

Talkspace (NASDAQ:TALK - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $47.40 million during 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 in the previous year, the company earned ($0.03) EPS.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its stake in shares of Talkspace by 2,480.3% during the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company's stock valued at $814,000 after buying an additional 340,030 shares during the period. Principal Financial Group Inc. purchased a new position in Talkspace during the 2nd quarter valued at about $38,000. Rhumbline Advisers increased its position in 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 during the period. Dimensional Fund Advisors LP bought a new stake in shares of Talkspace in the 2nd quarter valued at about $921,000. Finally, XTX Topco Ltd raised its holdings in Talkspace by 138.9% in the second quarter. XTX Topco Ltd now owns 154,624 shares of the company's stock worth $356,000 after purchasing an additional 89,898 shares in the last quarter. 57.37% of the stock is currently 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.