BTIG Research Issues Pessimistic Forecast for Better Home & Finance (NASDAQ:BETR) Stock Price

Key Points

• BTIG Research lowered its price target for Better Home & Finance from $23 to $20 while maintaining a Buy rating, implying roughly 103% upside from the $9.86 share price.
• Analyst sentiment remains broadly positive, with eight Buy ratings, one Hold, and one Sell; the consensus rating is Moderate Buy with an average price target of $24.57.
• The company reported a quarterly loss of $1.64 per share, worse than the expected $1.41 loss, alongside a 94.52% negative net margin; analysts forecast a full-year loss of $7.98 per share.

Better Home & Finance (NASDAQ:BETR - Get Free Report) had its price target dropped by equities research analysts at BTIG Research from $23.00 to $20.00 in a research note issued on Monday, Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's price target points to a potential upside of 102.84% from the company's current price.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $42.00 price objective on shares of Better Home & Finance in a research report on Tuesday, August 4th. Roth Capital set a $25.00 price objective on Better Home & Finance in a research report on Thursday, August 13th. Northland Securities set a $18.00 target price on Better Home & Finance in a research note on Wednesday. Needham & Company LLC reissued a "buy" rating and issued a $25.00 target price on shares of Better Home & Finance in a research note on Tuesday, October 6th. Finally, B. Riley Financial started coverage on Better Home & Finance in a research report on Wednesday, September 9th. They set a "buy" rating for the company. Eight equities research 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.57.

Better Home & Finance Price Performance

Shares of NASDAQ:BETR opened at $9.86 on Monday. The firm has a market cap of $187.34 million, a P/E ratio of -0.89 and a beta of 1.73. Better Home & Finance has a 12 month low of $9.45 and a 12 month high of $92.69. The company's 50-day moving average price is $13.24 and its two-hundred day moving average price is $24.13.

Better Home & Finance (NASDAQ:BETR - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($1.64) earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter. As a group, equities analysts predict that Better Home & Finance will post -7.98 earnings per share for the current fiscal year.

Insider Activity at Better Home & Finance

In other news, General Counsel Paula Tuffin sold 3,108 shares of Better Home & Finance stock in a transaction that occurred 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 completion of the sale, the general counsel owned 40,931 shares in the company, valued at $505,907.16. The trade was a 7.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Chad 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 transaction of $42,494.95. Following the sale, the insider directly owned 1,693 shares of the company's stock, valued at approximately $21,755.05. This trade represents a 66.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 27.72% of the stock is owned by insiders.

Institutional Trading of Better Home & Finance

A number of institutional investors have recently bought and sold shares of the business. Whetstone Capital Advisors LLC bought a new position in shares of Better Home & Finance in the 2nd quarter worth $6,985,000. Bank of New York Mellon Corp acquired a new stake in shares of Better Home & Finance during the second quarter worth $518,000. Stoic Point Capital Management LLC bought a new stake in Better Home & Finance in the first quarter valued at about $467,000. Royal Bank of Canada increased its holdings in Better Home & Finance by 1,264.0% in the first quarter. Royal Bank of Canada now owns 2,728 shares of the company's stock valued at $97,000 after purchasing an additional 2,528 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in Better Home & Finance in the first quarter valued at about $505,000. Institutional investors and hedge funds own 20.94% of the company's stock.

About Better Home & Finance

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.

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