Talkspace, Inc. (NASDAQ:TALK) Receives $4.50 Average Target Price from Brokerages

Talkspace, Inc. (NASDAQ:TALK - Get Free Report) has been assigned an average rating of "Buy" from the seven ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $4.50.

TALK has been the topic of several analyst reports. Canaccord Genuity Group initiated coverage on Talkspace in a research report on Thursday, April 3rd. They set a "buy" rating and a $5.00 target price on the stock. Needham & Company LLC restated a "hold" rating on shares of Talkspace in a research report on Tuesday, May 6th.

Hedge Funds Weigh In On Talkspace

Several large investors have recently made changes to their positions in the business. Financial Management Professionals Inc. bought a new stake in shares of Talkspace in the first quarter worth about $29,000. Integrity Alliance LLC. bought a new stake in shares of Talkspace in the first quarter worth about $35,000. Cibc World Markets Corp bought a new stake in shares of Talkspace in the fourth quarter worth about $36,000. Belvedere Trading LLC bought a new stake in shares of Talkspace in the fourth quarter worth about $37,000. Finally, McAdam LLC bought a new stake in shares of Talkspace in the first quarter worth about $44,000. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Talkspace Trading Down 1.8%

NASDAQ TALK traded down $0.06 on Wednesday, hitting $3.22. 2,641,646 shares of the company traded hands, compared to its average volume of 1,899,828. The company has a market capitalization of $538.75 million, a price-to-earnings ratio of 322.32 and a beta of 1.13. The business's 50 day moving average price is $2.90 and its 200-day moving average price is $3.09. Talkspace has a 52-week low of $1.60 and a 52-week high of $4.36.

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.