Talkspace (NASDAQ:TALK) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Talkspace (NASDAQ:TALK) to a strong-buy rating in a research note issued to investors on Wednesday,Zacks.com reports.

TALK has been the topic of a number of other reports. 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 research report on Tuesday, October 29th. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Finally, Northland Securities initiated coverage on Talkspace in a research report on Wednesday. They set an “outperform” rating and a $5.00 price target on the stock. Two 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.00.

Talkspace Stock Up 4.7 %

Talkspace stock opened at $3.31 on Wednesday. The company’s 50-day moving average price is $2.64 and its two-hundred day moving average price is $2.36. The stock has a market cap of $559.13 million, a P/E ratio of -331.00 and a beta of 1.11. Talkspace has a twelve month low of $1.60 and a twelve month high of $3.92.

Talkspace (NASDAQ:TALK) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The business had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same period last year, the firm posted ($0.03) EPS. Equities analysts anticipate that Talkspace will post -0.03 earnings per share for the current fiscal year.

Insider Activity at Talkspace

In other Talkspace news, CFO Ian Jiro Harris bought 23,100 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was purchased at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the completion of the purchase, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at approximately $839,056.27. This trade represents a 6.17 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 21.70% of the stock is currently owned by insiders.

Institutional Trading of Talkspace

Several institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp raised its stake in Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock worth $4,549,000 after acquiring an additional 580,826 shares in the last quarter. Royce & Associates LP bought a new stake in shares of Talkspace during the third quarter worth $1,045,000. Dimensional Fund Advisors LP bought a new position in shares of Talkspace in the 2nd quarter valued at $921,000. Divisadero Street Capital Management LP grew its position in Talkspace by 13.2% during the 2nd quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock worth $7,157,000 after acquiring an additional 361,717 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Talkspace by 2,480.3% in the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock valued at $814,000 after purchasing an additional 340,030 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.

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.