Talkspace (NASDAQ:TALK) Now Covered by Analysts at Canaccord Genuity Group

Equities researchers at Canaccord Genuity Group assumed coverage on shares of Talkspace (NASDAQ:TALK) in a report released on Thursday,Benzinga reports. The firm set a “buy” rating and a $5.00 price target on the stock. Canaccord Genuity Group’s price target would indicate a potential upside of 79.21% from the company’s current price.

Several other equities analysts also recently weighed in on TALK. Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Friday, February 21st. Mizuho assumed coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price objective for the company. Finally, KeyCorp started coverage on Talkspace in a research report on Monday, December 9th. They set an “overweight” rating and a $4.50 target price on the stock. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $4.50.

Talkspace Trading Up 4.9 %

Shares of NASDAQ TALK opened at $2.79 on Thursday. The stock has a fifty day simple moving average of $3.13 and a two-hundred day simple moving average of $3.00. Talkspace has a 1-year low of $1.60 and a 1-year high of $4.36. The firm has a market cap of $469.94 million, a price-to-earnings ratio of 279.28 and a beta of 1.15.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The company had revenue of $48.72 million during the quarter, compared to the consensus estimate of $49.94 million. Analysts forecast that Talkspace will post 0.08 EPS for the current year.

Insider Activity at Talkspace

In other news, CEO Jon R. Cohen purchased 75,000 shares of the business’s stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $2.86 per share, with a total value of $214,500.00. Following the acquisition, the chief executive officer now directly owns 2,267,980 shares in the company, valued at approximately $6,486,422.80. This trade represents a 3.42 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders bought 82,270 shares of company stock valued at $235,312. Corporate insiders own 21.70% of the company’s stock.

Institutional Investors Weigh In On Talkspace

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cibc World Markets Corp purchased a new position in Talkspace during the fourth quarter worth about $36,000. Belvedere Trading LLC bought a new stake in shares of Talkspace during the 4th quarter valued at about $37,000. Ameriprise Financial Inc. purchased a new position in shares of Talkspace during the fourth quarter worth about $53,000. Intech Investment Management LLC bought a new position in shares of Talkspace in the third quarter worth approximately $56,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in Talkspace in the fourth quarter valued at approximately $69,000. 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.