Talkspace (NASDAQ:TALK) Shares Gap Up – What’s Next?

Talkspace, Inc. (NASDAQ:TALK) gapped up prior to trading on Wednesday . The stock had previously closed at $3.42, but opened at $3.54. Talkspace shares last traded at $3.69, with a volume of 504,974 shares.

Analysts Set New Price Targets

TALK has been the subject of a number of research analyst reports. Mizuho initiated coverage on shares of Talkspace in a report on Wednesday. They set an “outperform” rating and a $5.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Talkspace in a report on Wednesday, October 30th. Barclays increased their price target on shares of Talkspace from $2.00 to $3.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 29th. Northland Securities began coverage on shares of Talkspace in a research note on Wednesday, November 20th. They set an “outperform” rating and a $5.00 price objective for the company. Finally, Northland Capmk upgraded shares of Talkspace to a “strong-buy” rating in a research note on Wednesday, November 20th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Talkspace has an average rating of “Moderate Buy” and an average price target of $4.33.

Talkspace Price Performance

The firm has a market capitalization of $601.36 million, a PE ratio of -369.00 and a beta of 1.12. The business’s 50 day moving average is $2.89 and its two-hundred day moving average is $2.40.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $47.40 million during the quarter, compared to the consensus estimate of $47.50 million. Talkspace had a negative net margin of 0.76% and a negative return on equity of 1.17%. During the same period in the previous year, the firm posted ($0.03) EPS. Analysts expect that Talkspace, Inc. will post -0.02 EPS for the current fiscal year.

Insider Activity

In other Talkspace news, CFO Ian Jiro Harris acquired 23,100 shares of the stock in a transaction dated Thursday, September 19th. The stock was purchased at an average cost of $2.11 per share, for a total transaction of $48,741.00. Following the acquisition, the chief financial officer now owns 397,657 shares in the company, valued at $839,056.27. The trade was a 6.17 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 21.70% of the company’s stock.

Hedge Funds Weigh In On Talkspace

A number of large investors have recently added to or reduced their stakes in the business. State Street Corp grew its stake in shares of Talkspace by 36.4% during the third quarter. State Street Corp now owns 2,176,589 shares of the company’s stock valued at $4,549,000 after buying an additional 580,826 shares during the last quarter. Royce & Associates LP bought a new position in Talkspace during the 3rd quarter worth approximately $1,045,000. Dimensional Fund Advisors LP purchased a new position in Talkspace in the 2nd quarter worth approximately $921,000. Divisadero Street Capital Management LP lifted its position in Talkspace by 13.2% in the second quarter. Divisadero Street Capital Management LP now owns 3,111,717 shares of the company’s stock valued at $7,157,000 after purchasing an additional 361,717 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Talkspace by 2,480.3% in 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. 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.