Talkspace (NASDAQ:TALK) Upgraded to Strong-Buy at KeyCorp

Talkspace (NASDAQ:TALK - Get Free Report) was upgraded by equities researchers at KeyCorp to a "strong-buy" rating in a research report issued on Sunday,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Barclays raised their price target 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 upgraded shares of Talkspace to a "strong-buy" rating in a report on Wednesday, November 20th. Mizuho assumed coverage on shares of Talkspace in a report on Wednesday, December 4th. They set an "outperform" rating and a $5.00 price target for the company. Northland Securities assumed coverage on shares of Talkspace in a report on Wednesday, November 20th. They set an "outperform" rating and a $5.00 price target for the company. Finally, Needham & Company LLC restated a "hold" rating on shares of Talkspace in a report on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $4.38.

Talkspace Trading Up 1.5 %

NASDAQ:TALK traded up $0.05 during mid-day trading on Friday, hitting $3.46. 1,404,858 shares of the company's stock were exchanged, compared to its average volume of 1,616,651. The company has a 50 day simple moving average of $3.01 and a 200-day simple moving average of $2.42. Talkspace has a fifty-two week low of $1.60 and a fifty-two week high of $3.92. The firm has a market capitalization of $584.47 million, a P/E ratio of -341.00 and a beta of 1.12.

Talkspace (NASDAQ:TALK - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.01 EPS for the quarter. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. The business had revenue of $47.40 million for the quarter, compared to the consensus estimate of $47.50 million. During the same period last year, the company earned ($0.03) EPS. As a group, analysts expect that Talkspace will post -0.02 earnings per share for the current year.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris purchased 23,100 shares of Talkspace stock in a transaction that occurred on Thursday, September 19th. The stock was acquired at an average price of $2.11 per share, with a total value of $48,741.00. Following the transaction, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. This trade represents a 6.17 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.70% of the stock is currently owned by company insiders.

Institutional Trading of Talkspace

Hedge funds have recently bought and sold shares of the business. Sugar Maple Asset Management LLC acquired a new stake in Talkspace in the 3rd quarter valued at $33,000. Principal Financial Group Inc. purchased a new position in Talkspace during the 2nd quarter worth $38,000. Creative Planning boosted its holdings in Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company's stock worth $55,000 after acquiring an additional 6,179 shares during the last quarter. Intech Investment Management LLC purchased a new position in Talkspace during the 3rd quarter worth $56,000. Finally, Aigen Investment Management LP boosted its holdings in 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 acquiring an additional 9,766 shares during the last quarter. Institutional investors and hedge funds own 57.37% of the company's stock.

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.