Analysts Set Talkspace, Inc. (NASDAQ:TALK) Target Price at $4.50

Shares of Talkspace, Inc. (NASDAQ:TALK - Get Free Report) have been assigned an average recommendation of "Buy" from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $4.50.

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research report on Tuesday. Canaccord Genuity Group assumed coverage on Talkspace in a research note on Thursday, April 3rd. They set a "buy" rating and a $5.00 price objective on the stock.

Insider Activity at Talkspace

In other news, CEO Jon R. Cohen bought 75,000 shares of the company's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the transaction, the chief executive officer now directly owns 2,267,980 shares of the company's stock, valued at $6,486,422.80. This represents a 3.42 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 82,270 shares of company stock worth $235,312. Company insiders own 21.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new stake in Talkspace during the first quarter worth about $29,000. Cibc World Markets Corp purchased a new stake in shares of Talkspace in the 4th quarter worth approximately $36,000. Belvedere Trading LLC bought a new position in Talkspace during the 4th quarter valued at approximately $37,000. Ameriprise Financial Inc. purchased a new position in Talkspace during the fourth quarter valued at $53,000. Finally, CWM LLC boosted its holdings in Talkspace by 1,230.7% in the first quarter. CWM LLC now owns 21,265 shares of the company's stock worth $54,000 after acquiring an additional 19,667 shares in the last quarter. Institutional investors own 57.37% of the company's stock.

Talkspace Stock Down 0.3 %

Shares of TALK stock traded down $0.01 on Friday, reaching $3.03. The company had a trading volume of 406,554 shares, compared to its average volume of 1,849,791. Talkspace has a one year low of $1.60 and a one year high of $4.36. The stock has a market capitalization of $510.36 million, a PE ratio of 303.30 and a beta of 1.13. The business's 50-day moving average is $2.83 and its 200 day moving average is $3.10.

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

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.