Talkspace, Inc. (NASDAQ:TALK) Receives Average Recommendation of "Buy" from Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK - Get Free Report) have received a consensus recommendation of "Buy" from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $4.50.

TALK has been the subject of a number of research analyst reports. Canaccord Genuity Group initiated coverage on shares of Talkspace in a research note on Thursday, April 3rd. They issued a "buy" rating and a $5.00 price target for the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Talkspace in a report on Tuesday, May 6th.

Insider Transactions at Talkspace

In other news, CMO Katelyn Watson sold 39,000 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $3.30, for a total transaction of $128,700.00. Following the completion of the sale, the chief marketing officer directly owned 433,997 shares in the company, valued at approximately $1,432,190.10. This represents a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 23.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Talkspace

Institutional investors have recently made changes to their positions in the stock. Financial Management Professionals Inc. bought a new stake in shares of Talkspace during the 1st quarter valued at about $29,000. Integrity Alliance LLC. bought a new stake in shares of Talkspace during the 1st quarter valued at about $35,000. Cibc World Markets Corp bought a new stake in shares of Talkspace during the 4th quarter valued at about $36,000. Parallel Advisors LLC bought a new stake in shares of Talkspace during the 2nd quarter valued at about $43,000. Finally, McAdam LLC bought a new stake in shares of Talkspace during the 1st quarter valued at about $44,000. Institutional investors own 57.37% of the company's stock.

Talkspace Stock Down 1.6%

Shares of TALK traded down $0.04 during mid-day trading on Thursday, hitting $2.48. The company had a trading volume of 1,472,148 shares, compared to its average volume of 1,909,951. The business's 50-day simple moving average is $2.88 and its 200-day simple moving average is $2.99. Talkspace has a 1-year low of $1.60 and a 1-year high of $4.36. The stock has a market cap of $414.94 million, a PE ratio of 124.06 and a beta of 1.07.

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.