Northland Capmk Upgrades Talkspace (NASDAQ:TALK) to "Strong-Buy"

Talkspace (NASDAQ:TALK - Get Free Report) was upgraded by research analysts at Northland Capmk to a "strong-buy" rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a research note on Wednesday, October 30th. Barclays increased their target price on shares of Talkspace from $2.00 to $3.00 and gave the company an "equal weight" rating in a report on Tuesday, October 29th. Finally, Northland Securities began coverage on shares of Talkspace in a research report on Wednesday. They issued an "outperform" rating and a $5.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Talkspace presently has a consensus rating of "Moderate Buy" and an average price target of $4.00.

Talkspace Stock Up 4.5 %

TALK stock traded up $0.15 during trading on Wednesday, reaching $3.46. The stock had a trading volume of 1,834,502 shares, compared to its average volume of 1,616,133. Talkspace has a one year low of $1.60 and a one year high of $3.92. The company's 50 day moving average is $2.67 and its two-hundred day moving average is $2.37. The company has a market capitalization of $584.46 million, a price-to-earnings ratio of -352.00 and a beta of 1.11.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (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 during the quarter, compared to the consensus estimate of $47.50 million. During the same period in the prior year, the firm posted ($0.03) EPS. As a group, research analysts predict that Talkspace will post -0.03 earnings per share for the current fiscal year.

Insider Transactions at Talkspace

In other news, CFO Ian Jiro Harris purchased 23,100 shares of the stock in a transaction on Thursday, September 19th. The shares were acquired at an average price of $2.11 per share, with a total value of $48,741.00. Following the completion of the acquisition, the chief financial officer now directly owns 397,657 shares of the company's stock, valued at $839,056.27. This trade represents a 6.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 21.70% of the company's stock.

Hedge Funds Weigh In On Talkspace

Several large investors have recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new stake in Talkspace in the third quarter worth $33,000. Principal Financial Group Inc. bought a new position in shares of Talkspace in the second quarter worth about $38,000. Creative Planning lifted its position in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company's stock valued at $55,000 after buying an additional 6,179 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of Talkspace during the third quarter valued at about $56,000. Finally, Virtu Financial LLC acquired a new position in shares of Talkspace during the first quarter valued at about $74,000. Hedge funds and other institutional investors 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.