Northland Starts TalkSpace (TALK) at Outperform

Northland analyst Bobby Brooks initiates coverage on TalkSpace (NASDAQ: TALK) with a Outperform rating and a price target of $5.00.

The analyst comments "1/5 Americans deal with a mental health issue, 1/3 live in an area with a shortage of mental health workers, and 1/2 are open to virtual therapy, this is where TALK steps in. The company's shift away from a DTC goto-market strategy to becoming an in-network benefit for large insurers/ EAPs/organizations has driven dramatic financial improvements the last two years. With $120M in cash, zero debt, and positive FCF generation, we think TALK is amply funded to execute on this massive TAM."

For an analyst ratings summary and ratings history on TalkSpace click here. For more ratings news on TalkSpace click here.

Shares of TalkSpace closed at $3.09 yesterday.

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