Talkspace, Inc. (TALK) Gets Initiated With an Equal Weight Rating at Barclays

Talkspace, Inc. (NASDAQ:TALK) is one of the best long-term penny stocks to invest in. Talkspace, Inc. (NASDAQ:TALK) was initiated with an Equal Weight rating at Barclays on December 8. The firm set a $3.50 price target, starting the US healthcare technology and distribution industry with a neutral view. It stated that it has the most bullish outlook for drug distributors, and has a more mixed view of the dental and healthcare information technology subsectors.

Is Talkspace Inc. (TALK) the High Growth Low Debt Stock to Invest in Now?

In another development, Talkspace, Inc. (NASDAQ:TALK) announced on November 19 that it was awarded a renewal of the Sourcewell cooperative purchasing contract in the Virtual Behavioral Health Therapy and Related Services category. Sourcewell is a self-funded governmental organization that facilitates a cooperative purchasing program harnessing the collective purchasing power of more than 50,000 participating agencies. It allows educational, government, and nonprofit organizations to secure efficient and cost-effective purchasing solutions.

Management reported that this development allows Talkspace, Inc. (NASDAQ:TALK) to expand its offerings to counties, cities, school districts, and public agencies in the youth mental health market across North America. The company managed to secure the Sourcewell contract after ensuring compliance with local procurement requirements, going through a rigorous request for proposal (RFP) process, and delivering exceptional value and service.

Talkspace, Inc. (NASDAQ:TALK) added that the partnership enables any public agency access to purchase from the company through a ready-to-use, Sourcewell-vetted contract, which streamlines the public purchasing process.

Talkspace, Inc. (NASDAQ:TALK) operates and develops a technology platform used in connecting patients and licensed mental health professionals through video, audio, and messaging.

While we acknowledge the potential of TALK to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TALK and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.