Talkspace (NASDAQ:TALK) Raised to “Strong-Buy” at KeyCorp

KeyCorp upgraded shares of Talkspace (NASDAQ:TALK) to a strong-buy rating in a report released on Sunday,Zacks.com reports.

Several other research firms also recently commented on TALK. Barclays lifted their target price on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 29th. Northland Securities initiated coverage on Talkspace in a research note on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 price target for the company. Mizuho initiated coverage on shares of Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Finally, Northland Capmk raised shares of Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Talkspace has an average rating of “Buy” and an average price target of $4.38.

Talkspace Price Performance

Shares of NASDAQ:TALK opened at $3.41 on Friday. The firm has a 50 day simple moving average of $3.01 and a 200 day simple moving average of $2.42. The company has a market cap of $576.03 million, a price-to-earnings ratio of -341.00 and a beta of 1.12. Talkspace has a one year low of $1.60 and a one year high of $3.92.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. The business had revenue of $47.40 million for the quarter, compared to analyst estimates of $47.50 million. During the same quarter in the previous year, the company posted ($0.03) EPS. As a group, analysts expect that Talkspace will post -0.02 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were bought at an average price of $2.11 per share, with a total value of $48,741.00. Following the transaction, the chief financial officer now directly owns 397,657 shares of the company’s stock, valued at $839,056.27. This trade represents a 6.17 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sugar Maple Asset Management LLC bought a new position in shares of Talkspace in the third quarter valued at approximately $33,000. Principal Financial Group Inc. purchased a new stake in shares of Talkspace in the second quarter valued at about $38,000. Creative Planning lifted its position in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares in the last quarter. Intech Investment Management LLC purchased a new position in Talkspace during the third quarter worth about $56,000. Finally, Aigen Investment Management LP grew its position in Talkspace by 37.8% in the 3rd quarter. Aigen Investment Management LP now owns 35,568 shares of the company’s stock worth $74,000 after purchasing an additional 9,766 shares in the last quarter. 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.