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

Talkspace, Inc. (NASDAQ:TALK) has been given a consensus recommendation of “Buy” by the six research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $4.38.

TALK has been the subject of a number of recent analyst reports. Mizuho began 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. Barclays raised their target price on 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 assumed coverage on Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Finally, KeyCorp assumed coverage on Talkspace in a research report on Monday, December 9th. They issued an “overweight” rating and a $4.50 target price on the stock.

Talkspace Price Performance

Shares of NASDAQ TALK opened at $3.13 on Friday. Talkspace has a 1-year low of $1.60 and a 1-year high of $3.92. The company has a market capitalization of $528.73 million, a price-to-earnings ratio of -313.00 and a beta of 1.12. The business has a 50-day moving average of $3.23 and a 200-day moving average of $2.49.

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 firm had revenue of $47.40 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same quarter in the prior year, the business earned ($0.03) EPS.

Institutional Trading of Talkspace

Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings 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 worth $814,000 after purchasing an additional 340,030 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Talkspace during the second quarter worth about $921,000. Divisadero Street Capital Management LP lifted its holdings in Talkspace by 13.2% in the second 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. Royce & Associates LP bought a new position in Talkspace in the third quarter worth about $1,045,000. Finally, State Street Corp boosted its stake in Talkspace by 36.4% in the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after acquiring an additional 580,826 shares during the period. 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.