Better Home & Finance (NASDAQ:BETR) Stock Gets Price Target Cut from Needham & Company LLC

Better Home & Finance (NASDAQ:BETR) had its target price lowered by Needham & Company LLC from $25.00 to $15.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 63.04% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Wall Street Zen cut Better Home & Finance from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 12th. Zacks Research upgraded shares of Better Home & Finance to a “hold” rating in a report on Wednesday, July 29th. B. Riley Financial began coverage on shares of Better Home & Finance in a research report on Wednesday, September 9th. They issued a “buy” rating on the stock. Weiss Ratings upgraded shares of Better Home & Finance from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 22nd. Finally, Roth Capital set a $25.00 price objective on shares of Better Home & Finance in a research note on Thursday, August 13th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.14.

Better Home & Finance Stock Down 6.7%

Shares of NASDAQ:BETR opened at $9.20 on Tuesday. The firm has a market cap of $174.79 million, a P/E ratio of -0.83 and a beta of 1.73. Better Home & Finance has a 12-month low of $8.72 and a 12-month high of $92.69. The business has a fifty day simple moving average of $12.88 and a 200 day simple moving average of $24.00.

Better Home & Finance (NASDAQ:BETR) last announced its earnings results on Thursday, August 6th. The company reported ($1.64) EPS for the quarter, missing the consensus estimate of ($1.41) by ($0.23). Better Home & Finance had a negative return on equity of 409.62% and a negative net margin of 94.52%. The company had revenue of $54.70 million for the quarter. As a group, equities research analysts expect that Better Home & Finance will post -7.98 EPS for the current year.

Insider Activity at Better Home & Finance

In other Better Home & Finance news, insider Chad M. Smith sold 3,307 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $12.85, for a total value of $42,494.95. Following the transaction, the insider directly owned 1,693 shares of the company’s stock, valued at approximately $21,755.05. The trade was a 66.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Paula Tuffin sold 3,108 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $12.36, for a total value of $38,414.88. Following the transaction, the general counsel owned 40,931 shares in the company, valued at $505,907.16. The trade was a 7.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 27.72% of the company’s stock.

Institutional Trading of Better Home & Finance

Hedge funds have recently modified their holdings of the stock. Whetstone Capital Advisors LLC acquired a new position in shares of Better Home & Finance during the 2nd quarter valued at $6,985,000. Fifth Third Bancorp bought a new position in Better Home & Finance during the first quarter worth $1,460,000. Mangrove Partners IM LLC acquired a new stake in Better Home & Finance in the fourth quarter worth $623,000. Bank of New York Mellon Corp acquired a new stake in Better Home & Finance in the second quarter worth $518,000. Finally, Quantinno Capital Management LP bought a new stake in Better Home & Finance in the first quarter valued at $505,000. Institutional investors own 20.94% of the company’s stock.

Better Home & Finance Company Profile

Better Home & Finance Holding Company is a technology-focused homeownership platform that provides digital tools and services for consumers navigating the home-buying and home-financing process. Its offerings are designed to simplify mortgage applications and other transactions through an online platform.

Through its Better Mortgage business, the company originates and facilitates residential mortgage loans. Its broader suite of services has included real estate brokerage, title and settlement services, and homeowners insurance, allowing customers to access several aspects of the homeownership process through a single platform.

Better was founded in 2014 and is associated with founder and Chief Executive Officer Vishal Garg.