Needham & Company LLC Reaffirms Buy Rating for Talkspace (NASDAQ:TALK)

Talkspace (NASDAQ:TALK)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $5.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 56.25% from the company’s current price.

Several other equities analysts have also weighed in on TALK. Zacks Research raised shares of Talkspace from a “strong sell” rating to a “hold” rating in a research report on Friday, October 31st. Canaccord Genuity Group upped their price target on shares of Talkspace from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Talkspace in a report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.17.

Talkspace Stock Up 4.2%

NASDAQ:TALK opened at $3.20 on Tuesday. Talkspace has a 12-month low of $2.22 and a 12-month high of $4.36. The firm has a market capitalization of $530.10 million, a price-to-earnings ratio of 106.70 and a beta of 1.20. The stock’s 50 day moving average price is $3.03 and its two-hundred day moving average price is $2.82.

Talkspace (NASDAQ:TALK) last issued its earnings results on Thursday, October 30th. The company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $59.38 million during the quarter, compared to the consensus estimate of $57.45 million. Talkspace had a return on equity of 3.75% and a net margin of 1.98%. Equities research analysts expect that Talkspace will post 0.08 EPS for the current year.

Institutional Trading of Talkspace

A number of institutional investors have recently bought and sold shares of the business. CIBC Bancorp USA Inc. acquired a new position in shares of Talkspace during the 3rd quarter worth approximately $42,000. Verition Fund Management LLC boosted its stake in shares of Talkspace by 48.1% in the third quarter. Verition Fund Management LLC now owns 205,498 shares of the company’s stock valued at $567,000 after buying an additional 66,771 shares during the period. Polymer Capital Management US LLC bought a new stake in shares of Talkspace in the third quarter valued at approximately $113,000. Brevan Howard Capital Management LP acquired a new stake in Talkspace during the third quarter worth approximately $100,000. Finally, Boothbay Fund Management LLC bought a new position in Talkspace during the 3rd quarter worth $78,000. 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.