Talkspace's (TALK) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Talkspace (NASDAQ:TALK - Free Report) in a research note released on Tuesday morning,Benzinga reports.

Separately, Canaccord Genuity Group started coverage on Talkspace in a research note on Thursday, April 3rd. They set a "buy" rating and a $5.00 target price on the stock. Two investment 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 stock. According to MarketBeat, Talkspace currently has an average rating of "Buy" and an average price target of $4.50.

Talkspace Stock Performance

Shares of NASDAQ:TALK traded down $0.02 during trading on Tuesday, reaching $3.02. 972,117 shares of the stock traded hands, compared to its average volume of 1,851,895. Talkspace has a 52-week low of $1.60 and a 52-week high of $4.36. The stock has a 50-day moving average of $2.84 and a two-hundred day moving average of $3.11. The stock has a market cap of $508.68 million, a P/E ratio of 302.30 and a beta of 1.13.

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

Insider Buying and Selling at Talkspace

In other news, CEO Jon R. Cohen purchased 75,000 shares of the stock in a transaction 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 acquisition, the chief executive officer now directly owns 2,267,980 shares of the company's stock, valued at approximately $6,486,422.80. The trade was a 3.42 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders bought 82,270 shares of company stock valued at $235,312 over the last quarter. 21.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Talkspace

Institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Talkspace by 448.3% in the third quarter. JPMorgan Chase & Co. now owns 526,972 shares of the company's stock valued at $1,101,000 after buying an additional 430,861 shares in the last quarter. Evernest Financial Advisors LLC purchased a new stake in shares of Talkspace during the 4th quarter worth $337,000. Barclays PLC grew its stake in shares of Talkspace by 322.3% during the 3rd quarter. Barclays PLC now owns 175,990 shares of the company's stock worth $368,000 after purchasing an additional 134,313 shares during the period. Geode Capital Management LLC increased its holdings in shares of Talkspace by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 3,077,361 shares of the company's stock valued at $9,512,000 after purchasing an additional 63,072 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in shares of Talkspace by 87.9% in the fourth quarter. MetLife Investment Management LLC now owns 77,294 shares of the company's stock valued at $239,000 after purchasing an additional 36,154 shares during the period. Institutional investors and hedge funds 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.