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

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

A number of other equities analysts also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Wednesday, October 30th. Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Barclays upped 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. Mizuho began coverage on shares of Talkspace in a report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective on the stock. Finally, Northland Securities initiated coverage on shares of Talkspace in a report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $4.38.

Talkspace Price Performance

Shares of TALK opened at $3.46 on Friday. The firm has a market capitalization of $584.47 million, a price-to-earnings ratio of -346.00 and a beta of 1.12. Talkspace has a 1-year low of $1.60 and a 1-year high of $3.92. The company has a 50-day moving average of $3.03 and a 200 day moving average of $2.42.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. On average, equities analysts anticipate that Talkspace will post -0.02 earnings per share for the current fiscal year.

Insider Transactions at Talkspace

In other Talkspace news, CFO Ian Jiro Harris purchased 23,100 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was bought 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 owns 397,657 shares in the company, valued at $839,056.27. This represents a 6.17 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

A number of large investors have recently modified their holdings of the business. State Street Corp increased its position in shares of Talkspace by 36.4% in the 3rd 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. Royce & Associates LP purchased a new stake in Talkspace during the 3rd quarter valued at about $1,045,000. Dimensional Fund Advisors LP acquired a new position in shares of Talkspace in the second quarter valued at about $921,000. Divisadero Street Capital Management LP raised its stake in shares of 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 purchasing an additional 361,717 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted 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. Hedge funds and other institutional investors own 57.37% of the company’s stock.

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.