Talkspace (NASDAQ:TALK) Sets New 1-Year High – Still a Buy?

Talkspace, Inc. (NASDAQ:TALK)’s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $4.15 and last traded at $3.99, with a volume of 602985 shares traded. The stock had previously closed at $3.85.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a research note on Wednesday, October 30th. Northland Capmk upgraded Talkspace to a “strong-buy” rating in a report on Wednesday, November 20th. KeyCorp began coverage on shares of Talkspace in a report on Monday, December 9th. They set an “overweight” rating and a $4.50 target price on the stock. Mizuho started coverage on shares of Talkspace in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $5.00 price target for the company. Finally, Northland Securities assumed coverage on shares of Talkspace in a research report on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price target for the company. 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 stock. According to data from MarketBeat, Talkspace presently has an average rating of “Buy” and an average price target of $4.38.

Talkspace Price Performance

The stock has a 50 day simple moving average of $3.23 and a 200-day simple moving average of $2.71. The firm has a market cap of $677.38 million, a PE ratio of -401.00 and a beta of 1.14.

Hedge Funds Weigh In On Talkspace

Several large investors have recently modified their holdings of the stock. Sugar Maple Asset Management LLC purchased a new position in Talkspace in the 3rd quarter worth approximately $33,000. Cibc World Markets Corp bought a new stake in shares of Talkspace in the 4th quarter worth $36,000. Belvedere Trading LLC purchased a new position in shares of Talkspace in the fourth quarter worth $37,000. Creative Planning lifted its holdings in shares of Talkspace by 30.6% during the third quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Talkspace during the third quarter valued at $56,000. Hedge funds and other 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.