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

Shares of Talkspace, Inc. (NASDAQ:TALK - Get Free Report) have received an average rating of "Buy" from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. 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. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $4.50.

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group started coverage on Talkspace in a report on Thursday, April 3rd. They issued a "buy" rating and a $5.00 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research report on Friday, February 21st.

Insider Activity at Talkspace

In related news, CEO Jon R. Cohen purchased 75,000 shares of the business's stock in a transaction dated Friday, February 28th. The stock was acquired at an average price of $2.86 per share, for a total transaction of $214,500.00. Following the acquisition, the chief executive officer now directly owns 2,267,980 shares of the company's stock, valued at $6,486,422.80. This trade represents a 3.42 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders bought a total of 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 Trading of Talkspace

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Talkspace by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 389,312 shares of the company's stock valued at $1,203,000 after acquiring an additional 10,835 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Talkspace by 27.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 50,177 shares of the company's stock worth $156,000 after purchasing an additional 10,849 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Talkspace in the 1st quarter valued at approximately $29,000. ProShare Advisors LLC grew its holdings in Talkspace by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 34,622 shares of the company's stock valued at $107,000 after buying an additional 11,392 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in Talkspace during the fourth quarter worth $36,000. Institutional investors and hedge funds own 57.37% of the company's stock.

Talkspace Price Performance

Shares of Talkspace stock traded down $0.06 during trading hours on Friday, hitting $3.13. The company had a trading volume of 1,748,430 shares, compared to its average volume of 1,854,268. The company's 50-day moving average is $2.82 and its two-hundred day moving average is $3.10. The company has a market cap of $527.21 million, a P/E ratio of 313.31 and a beta of 1.13. Talkspace has a twelve month low of $1.60 and a twelve month high of $4.36.

Talkspace (NASDAQ:TALK - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $49.94 million. Sell-side analysts expect that Talkspace will post 0.08 EPS for the current 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.