Talkspace, Inc. (NASDAQ:TALK) Receives Consensus Rating of “Moderate Buy” from Analysts

Talkspace, Inc. (NASDAQ:TALK) has received a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $4.8750.

Several brokerages have recently weighed in on TALK. Barclays assumed coverage on Talkspace in a report on Monday, December 8th. They set an “equal weight” rating and a $3.50 price objective on the stock. Zacks Research upgraded shares of Talkspace from a “strong sell” rating to a “hold” rating in a research note on Friday, October 31st. Canaccord Genuity Group set a $6.00 price objective on shares of Talkspace in a research note on Tuesday, December 30th. KeyCorp lifted their target price on shares of Talkspace from $4.00 to $5.00 and gave the company an “overweight” rating in a research report on Thursday, January 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 target price on shares of Talkspace in a research note on Tuesday, December 2nd.

Institutional Trading of Talkspace

A number of large investors have recently bought and sold shares of TALK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Talkspace by 2.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 142,143 shares of the company’s stock valued at $364,000 after purchasing an additional 3,924 shares in the last quarter. Parallel Advisors LLC boosted its position in Talkspace by 25.8% in the third quarter. Parallel Advisors LLC now owns 19,500 shares of the company’s stock valued at $54,000 after buying an additional 4,000 shares in the last quarter. Summit Global Investments grew its stake in Talkspace by 2.7% during the second quarter. Summit Global Investments now owns 168,082 shares of the company’s stock worth $467,000 after buying an additional 4,367 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of Talkspace by 11.9% during the fourth quarter. Intech Investment Management LLC now owns 49,701 shares of the company’s stock worth $180,000 after buying an additional 5,277 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of Talkspace by 5.3% in the third quarter. Rhumbline Advisers now owns 180,645 shares of the company’s stock valued at $499,000 after acquiring an additional 9,168 shares during the last quarter. 57.37% of the stock is currently owned by institutional investors.

Talkspace Stock Performance

NASDAQ TALK opened at $3.83 on Wednesday. Talkspace has a twelve month low of $2.22 and a twelve month high of $4.36. The stock has a market cap of $634.48 million, a PE ratio of 127.71 and a beta of 1.20. The firm has a 50-day simple moving average of $3.78 and a 200 day simple moving average of $3.18.

About Talkspace

Talkspace, Inc (NASDAQ:TALK) is a digital mental health company that provides online therapy and psychiatry services through a secure, cloud-based platform. Headquartered in New York City, Talkspace enables individuals and couples to connect with licensed therapists and psychiatrists via text messaging, live audio, and video sessions. The company’s platform is accessible through web and mobile applications, allowing clients to seek professional support anytime and from any location with an internet connection.

The company’s core offerings include therapy plans that range from unlimited text-based messaging with a dedicated therapist to scheduled live video sessions.