Better Home & Finance (NASDAQ:BETR) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

Better Home & Finance (NASDAQ:BETR)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $25.00 target price on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 143.36% from the stock’s current price.

A number of other research analysts have also weighed in on BETR. Roth Capital set a $25.00 price objective on Better Home & Finance in a research report on Thursday, August 13th. Zacks Research raised Better Home & Finance to a “hold” rating in a research note on Wednesday, July 29th. BTIG Research cut their price target on Better Home & Finance from $36.00 to $23.00 and set a “buy” rating for the company in a report on Monday, August 10th. Northland Securities raised Better Home & Finance from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen cut Better Home & Finance from a “sell” rating to a “strong sell” rating in a report on Saturday, September 12th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Better Home & Finance currently has an average rating of “Moderate Buy” and an average price target of $25.00.

Better Home & Finance Stock Performance

BETR stock opened at $10.27 on Tuesday. Better Home & Finance has a one year low of $9.60 and a one year high of $92.69. The company’s fifty day moving average price is $13.73 and its 200-day moving average price is $24.39. The company has a market capitalization of $195.19 million, a PE ratio of -0.93 and a beta of 1.73.

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

Insider Buying and Selling

In other Better Home & Finance news, insider Chad M. Smith sold 3,307 shares of Better Home & Finance stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $12.85, for a total transaction of $42,494.95. Following the completion of the transaction, the insider directly owned 1,693 shares of the company’s stock, valued at $21,755.05. The trade was a 66.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 business’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $12.36, for a total transaction of $38,414.88. Following the transaction, the general counsel owned 40,931 shares in the company, valued at $505,907.16. This trade represents a 7.06% decrease in their position. 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. Corporate insiders own 27.72% of the company’s stock.

Hedge Funds Weigh In On Better Home & Finance

A number of large investors have recently made changes to their positions in the company. Whetstone Capital Advisors LLC purchased a new stake in Better Home & Finance in the second quarter worth $6,985,000. Fifth Third Bancorp bought a new position in shares of Better Home & Finance in the first quarter worth about $1,460,000. Mangrove Partners IM LLC bought a new position in shares of Better Home & Finance in the fourth quarter worth about $623,000. Bank of New York Mellon Corp purchased a new position in Better Home & Finance in the 2nd quarter worth about $518,000. Finally, Quantinno Capital Management LP purchased a new position in Better Home & Finance in the 1st quarter worth about $505,000. 20.94% of the stock is owned by hedge funds and other institutional investors.

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.