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

Shares of Talkspace, Inc. (NASDAQ:TALK) have received an average recommendation of “Buy” from the seven ratings firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $4.50.

TALK has been the topic of several recent research reports. Canaccord Genuity Group initiated coverage on Talkspace in a report on Thursday, April 3rd. They set a “buy” rating and a $5.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of Talkspace in a report on Tuesday, May 6th.

Talkspace Stock Performance

Shares of TALK stock opened at $3.22 on Wednesday. Talkspace has a 1 year low of $1.60 and a 1 year high of $4.36. The stock has a market cap of $538.75 million, a PE ratio of 322.32 and a beta of 1.13. The business’s fifty day moving average is $2.90 and its 200-day moving average is $3.09.

Institutional Investors Weigh In On Talkspace

Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its stake in shares of Talkspace by 68.0% during the 4th quarter. SG Americas Securities LLC now owns 79,282 shares of the company’s stock worth $245,000 after purchasing an additional 32,080 shares during the last quarter. Evernest Financial Advisors LLC bought a new stake in shares of Talkspace in the 4th quarter valued at about $337,000. Belvedere Trading LLC bought a new stake in shares of Talkspace in the 4th quarter valued at about $37,000. New York State Common Retirement Fund raised its holdings in shares of Talkspace by 829.3% in the 4th quarter. New York State Common Retirement Fund now owns 38,100 shares of the company’s stock valued at $118,000 after purchasing an additional 34,000 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Talkspace by 27.9% in the 4th quarter. Bank of New York Mellon Corp now owns 336,086 shares of the company’s stock valued at $1,039,000 after purchasing an additional 73,332 shares during the period. 57.37% of the stock is owned by institutional investors.

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.