Brokerages Set Talkspace, Inc. (NASDAQ:TALK) Price Target at $5.56

Talkspace, Inc. (NASDAQ:TALK) has been assigned an average recommendation of “Hold” from the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $5.5625.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Talkspace in a research note on Friday, August 7th.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $5.25 on Friday. Talkspace has a 52-week low of $2.49 and a 52-week high of $5.25. The stock’s fifty day simple moving average is $5.23 and its 200-day simple moving average is $5.17.

Talkspace (NASDAQ:TALK) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.02). Talkspace had a return on equity of 0.17% and a net margin of 0.08%.The business had revenue of $61.67 million for the quarter, compared to analyst estimates of $67.99 million. On average, equities research analysts anticipate that Talkspace will post 0.14 EPS for the current fiscal year.

Insider Activity

In other news, insider John Reilly sold 40,289 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $5.20, for a total value of $209,502.80. Following the completion of the sale, the insider owned 1,017,686 shares of the company’s stock, valued at approximately $5,291,967.20. The trade was a 3.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 23.50% of the company’s stock.

Institutional Trading of Talkspace

Institutional investors and hedge funds have recently modified their holdings of the business. Cerity Partners LLC acquired a new position in shares of Talkspace in the 2nd quarter valued at about $28,000. Dynamic Technology Lab Private Ltd bought a new position in Talkspace in the third quarter worth about $35,000. Neuberger Berman Group LLC bought a new position in Talkspace in the fourth quarter worth about $38,000. Engineers Gate Manager LP bought a new position in Talkspace in the second quarter worth about $39,000. Finally, Vise Technologies Inc. acquired a new position in Talkspace in the fourth quarter valued at approximately $40,000. 57.37% of the stock is owned by institutional investors and hedge funds.

Talkspace Company Profile

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.