Talkspace, Inc. (NASDAQ:TALK) Given Average Recommendation of “Buy” by Analysts

Talkspace, Inc. (NASDAQ:TALK) has been assigned a consensus rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Two 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 1 year price target among analysts that have covered the stock in the last year is $4.50.

Several brokerages recently commented on TALK. Canaccord Genuity Group began coverage on shares of Talkspace in a research report on Thursday, April 3rd. They issued a “buy” rating and a $5.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research report on Tuesday, May 6th.

Insider Transactions at Talkspace

In other Talkspace news, CMO Katelyn Watson sold 39,000 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $3.30, for a total value of $128,700.00. Following the completion of the sale, the chief marketing officer owned 433,997 shares in the company, valued at $1,432,190.10. This represents a 8.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 23.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Talkspace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. purchased a new stake in Talkspace in the 1st quarter worth approximately $29,000. Integrity Alliance LLC. purchased a new stake in Talkspace in the 1st quarter worth approximately $35,000. Cibc World Markets Corp purchased a new stake in Talkspace in the 4th quarter worth approximately $36,000. Parallel Advisors LLC purchased a new stake in Talkspace in the 2nd quarter worth approximately $43,000. Finally, McAdam LLC purchased a new stake in Talkspace in the 1st quarter worth approximately $44,000. Hedge funds and other institutional investors own 57.37% of the company’s stock.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $2.48 on Thursday. The stock has a market capitalization of $414.95 million, a price-to-earnings ratio of 124.06 and a beta of 1.07. Talkspace has a 1-year low of $1.60 and a 1-year high of $4.36. The company has a 50 day moving average price of $2.91 and a 200 day moving average price of $3.00.

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.