Talkspace (NASDAQ:TALK) Trading 4.6% Higher – Time to Buy?

Talkspace, Inc. (NASDAQ:TALK) rose 4.6% on Thursday . The stock traded as high as $3.18 and last traded at $3.16. Approximately 271,352 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,594,733 shares. The stock had previously closed at $3.02.

Analysts Set New Price Targets

Several brokerages recently commented on TALK. Northland Securities began coverage on Talkspace in a report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 target price on the stock. Barclays upped their target price on shares of Talkspace from $2.00 to $3.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 29th. KeyCorp assumed coverage on shares of Talkspace in a report on Monday, December 9th. They issued an “overweight” rating and a $4.50 price objective on the stock. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $4.38.

Talkspace Price Performance

The firm has a market cap of $542.24 million, a P/E ratio of -321.00 and a beta of 1.12. The firm’s 50-day moving average price is $3.19 and its 200 day moving average price is $2.46.

Talkspace (NASDAQ:TALK) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative return on equity of 1.17% and a negative net margin of 0.76%. During the same period in the previous year, the business earned ($0.03) EPS.

Institutional Investors Weigh In On Talkspace

Several institutional investors and hedge funds have recently bought and sold shares of TALK. Bank of New York Mellon Corp grew its holdings in shares of Talkspace by 2,480.3% during the second quarter. Bank of New York Mellon Corp now owns 353,739 shares of the company’s stock valued at $814,000 after purchasing an additional 340,030 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Talkspace during the 2nd quarter worth $264,000. Principal Financial Group Inc. acquired a new stake in Talkspace in the second quarter worth $38,000. Rhumbline Advisers lifted its stake in Talkspace by 2,357.6% in the second quarter. Rhumbline Advisers now owns 135,215 shares of the company’s stock valued at $311,000 after buying an additional 129,713 shares during the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Talkspace during the second quarter valued at $921,000. Institutional investors and hedge funds 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.