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

Shares of Talkspace, Inc. (NASDAQ:TALK - Get Free Report) have been assigned a consensus recommendation of "Buy" from the seven analysts that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.50.

Several equities analysts have recently weighed in on TALK shares. Needham & Company LLC reissued a "hold" rating on shares of Talkspace in a research report on Tuesday, May 6th. Canaccord Genuity Group started 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.

Talkspace Stock Up 10.8%

NASDAQ:TALK traded up $0.32 on Wednesday, hitting $3.28. The stock had a trading volume of 9,309,191 shares, compared to its average volume of 1,893,559. Talkspace has a 52-week low of $1.60 and a 52-week high of $4.36. The stock has a market cap of $548.79 million, a price-to-earnings ratio of 328.33 and a beta of 1.13. The business's 50-day simple moving average is $2.89 and its two-hundred day simple moving average is $3.10.

Insider Activity

In related news, CEO Jon R. Cohen acquired 75,000 shares of the stock in a transaction on Friday, February 28th. The shares were bought at an average price of $2.86 per share, with a total value of $214,500.00. Following the completion of the purchase, the chief executive officer now owns 2,267,980 shares of the company's stock, valued at approximately $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 at the SEC website. Company insiders own 23.50% of the company's stock.

Institutional Investors Weigh In On Talkspace

Institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers grew its stake in Talkspace by 15.9% during the 1st quarter. Rhumbline Advisers now owns 147,980 shares of the company's stock worth $379,000 after purchasing an additional 20,261 shares in the last quarter. Strs Ohio purchased a new stake in Talkspace during the 1st quarter valued at approximately $58,000. McAdam LLC purchased a new position in shares of Talkspace during the 1st quarter worth approximately $44,000. Integrity Alliance LLC. purchased a new position in shares of Talkspace during the 1st quarter worth approximately $35,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company's stock worth $364,000 after acquiring an additional 3,924 shares during the period. Hedge funds and other institutional investors own 57.37% of the company's stock.

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.