Talkspace, Inc. (NASDAQ:TALK) Receives $4.50 Consensus Price Target from Analysts

Shares of Talkspace, Inc. (NASDAQ:TALK) have received a consensus recommendation of “Buy” from the seven analysts that are covering the company, MarketBeat Ratings reports. Two 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 price objective among brokerages that have updated their coverage on the stock in the last year is $4.50.

A number of analysts recently weighed in on TALK shares. Canaccord Genuity Group started coverage on shares of Talkspace in a research note 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 research note on Tuesday, May 6th.

Talkspace Price Performance

Shares of NASDAQ:TALK opened at $3.41 on Wednesday. The firm has a market capitalization of $570.54 million, a PE ratio of 341.34 and a beta of 1.12. The firm’s 50-day moving average is $2.92 and its two-hundred day moving average is $3.10. Talkspace has a 1 year low of $1.60 and a 1 year high of $4.36.

Institutional Trading of Talkspace

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. acquired a new position in shares of Talkspace in the 1st quarter valued at $29,000. Integrity Alliance LLC. purchased a new position in shares of Talkspace in the 1st quarter valued at $35,000. Cibc World Markets Corp purchased a new position in shares of Talkspace in the 4th quarter valued at $36,000. Belvedere Trading LLC purchased a new position in shares of Talkspace in the 4th quarter valued at $37,000. Finally, McAdam LLC purchased a new position in shares of Talkspace in the 1st quarter valued at $44,000. 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.