Talkspace (NASDAQ:TALK) Stock Price Up 7.5% – Should You Buy?

Talkspace, Inc. (NASDAQ:TALK) shares traded up 7.5% during trading on Thursday . The company traded as high as $3.01 and last traded at $2.97. 1,440,438 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 1,769,750 shares. The stock had previously closed at $2.76.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TALK shares. KeyCorp began coverage on shares of Talkspace in a research note on Monday, December 9th. They set an “overweight” rating and a $4.50 target price for the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Friday, February 21st. Northland Capmk raised Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. Mizuho assumed coverage on Talkspace in a research report on Wednesday, December 4th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Northland Securities began coverage on Talkspace in a research report on Wednesday, November 20th. They issued an “outperform” rating and a $5.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $4.38.

Talkspace Stock Up 3.2 %

The company has a market cap of $481.26 million, a P/E ratio of 284.78 and a beta of 1.15. The firm’s 50 day moving average is $3.26 and its two-hundred day moving average is $2.87.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $49.94 million. As a group, research analysts forecast that Talkspace, Inc. will post 0.08 EPS for the current fiscal year.

Insider Activity

In other Talkspace news, CEO Jon R. Cohen acquired 75,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were bought at an average cost of $2.86 per share, with a total value of $214,500.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders have bought 82,270 shares of company stock valued at $235,312. 21.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Talkspace

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Talkspace by 4.6% during the 4th quarter. Vanguard Group Inc. now owns 7,180,787 shares of the company’s stock valued at $22,189,000 after acquiring an additional 315,741 shares during the period. Deutsche Bank AG lifted its position in shares of Talkspace by 103.1% during the fourth quarter. Deutsche Bank AG now owns 4,615,485 shares of the company’s stock worth $14,262,000 after acquiring an additional 2,342,913 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Talkspace by 2.1% in the fourth 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. State Street Corp grew its holdings in Talkspace by 36.4% during the 3rd quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after buying an additional 580,826 shares in the last quarter. Finally, Voss Capital LP bought a new stake in shares of Talkspace during the fourth quarter valued at about $3,981,000. Institutional investors own 57.37% of the company’s stock.

About Talkspace

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.