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

Talkspace, Inc. (NASDAQ:TALK) has received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $4.38.

A number of analysts have weighed in on the company. Barclays increased their price target on Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Mizuho assumed coverage on shares of Talkspace in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target on the stock. Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research report on Wednesday, November 20th. Finally, Northland Securities started coverage on shares of Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Evernest Financial Advisors LLC purchased a new position in Talkspace in the 4th quarter valued at approximately $337,000. SG Americas Securities LLC lifted its holdings in shares of Talkspace by 68.0% during the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company’s stock worth $245,000 after acquiring an additional 32,080 shares during the last quarter. Sugar Maple Asset Management LLC lifted its holdings in shares of Talkspace by 75.0% during the 4th quarter. Sugar Maple Asset Management LLC now owns 28,000 shares of the company’s stock worth $87,000 after acquiring an additional 12,000 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Talkspace by 448.3% during the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company’s stock valued at $1,101,000 after buying an additional 430,861 shares during the period. Finally, Barclays PLC boosted its position in Talkspace by 322.3% during the third quarter. Barclays PLC now owns 175,990 shares of the company’s stock valued at $368,000 after buying an additional 134,313 shares during the period. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Talkspace Stock Performance

Shares of TALK opened at $3.19 on Thursday. The stock has a market capitalization of $538.85 million, a price-to-earnings ratio of -319.00 and a beta of 1.14. Talkspace has a 52 week low of $1.60 and a 52 week high of $3.92. The stock has a fifty day moving average of $3.21 and a 200-day moving average of $2.60.

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

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.