Talkspace, Inc. (NASDAQ:TALK) Given Consensus Rating of “Buy” by Brokerages

Talkspace, Inc. (NASDAQ:TALK) has been given an average recommendation of “Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. Two investment 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. The average 1 year price target among analysts that have issued a report on the stock in the last year is $4.50.

A number of research firms have commented on TALK. Canaccord Genuity Group started coverage on Talkspace in a report on Thursday, April 3rd. They set a “buy” rating and a $5.00 price target on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Friday, February 21st.

Insider Buying and Selling at Talkspace

In related news, CEO Jon R. Cohen bought 75,000 shares of the company’s stock in a transaction on Friday, February 28th. The shares were acquired at an average cost of $2.86 per share, for a total transaction of $214,500.00. Following the purchase, the chief executive officer now directly owns 2,267,980 shares of the company’s stock, valued at approximately $6,486,422.80. The trade was 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 at this link. Insiders acquired 82,270 shares of company stock worth $235,312 over the last 90 days. Company insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Deutsche Bank AG grew its stake in Talkspace by 103.1% in the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock valued at $14,262,000 after purchasing an additional 2,342,913 shares during the last quarter. Voss Capital LP purchased a new position in shares of Talkspace during the fourth quarter worth $3,981,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Talkspace in the 4th quarter valued at about $3,371,000. Balyasny Asset Management L.P. acquired a new position in Talkspace in the fourth quarter valued at approximately $3,179,000. Finally, Metavasi Capital LP purchased a new stake in Talkspace during the fourth quarter worth $2,295,000. 57.37% of the stock is currently owned by institutional investors.

Talkspace Stock Up 2.2 %

Talkspace stock opened at $2.78 on Tuesday. Talkspace has a 52-week low of $1.60 and a 52-week high of $4.36. The company has a market cap of $468.25 million, a P/E ratio of 278.28 and a beta of 1.16. The business has a 50-day simple moving average of $3.05 and a two-hundred day simple moving average of $3.04.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. Talkspace had a return on equity of 0.98% and a net margin of 0.61%. The business had revenue of $48.72 million during the quarter, compared to analysts’ expectations of $49.94 million. Research analysts anticipate that Talkspace will post 0.08 EPS for the current fiscal 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.