Better Home & Finance (NASDAQ:BETR) Given "Buy" Rating at Canaccord Genuity Group

Key Points

• Canaccord Genuity reiterated a “Buy” rating on Better Home & Finance with a $42 price target, implying 53.85% upside from the stock’s current price.
• Analyst sentiment is broadly positive: six analysts rate the stock a Buy, one a Hold, and one a Sell. The consensus rating is “Moderate Buy,” with an average price target of $36.33.
• Insider activity was mixed, with the CEO purchasing 15,600 shares while the COO sold 2,455 shares; insiders collectively own 27.72% of the company.

Better Home & Finance (NASDAQ:BETR - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Canaccord Genuity Group in a report released on Tuesday,Benzinga reports. They currently have a $42.00 price target on the stock. Canaccord Genuity Group's target price suggests a potential upside of 53.85% from the stock's current price.

A number of other brokerages have also recently commented on BETR. Northland Securities upgraded shares of Better Home & Finance from a "market perform" rating to an "outperform" rating and set a $38.00 price target for the company in a research note on Thursday, July 9th. Weiss Ratings restated a "sell (e+)" rating on shares of Better Home & Finance in a research note on Friday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $35.00 target price on shares of Better Home & Finance in a report on Friday. Wall Street Zen cut Better Home & Finance from a "sell" rating to a "strong sell" rating in a report on Saturday. Finally, Zacks Research upgraded Better Home & Finance to a "hold" rating in a research note on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.33.

Better Home & Finance Stock Up 16.2%

Shares of Better Home & Finance stock opened at $27.30 on Tuesday. The stock has a market cap of $515.15 million, a P/E ratio of -2.32 and a beta of 1.74. Better Home & Finance has a 12-month low of $12.74 and a 12-month high of $94.06. The business's 50 day moving average is $25.76 and its 200-day moving average is $30.47.

Insider Transactions at Better Home & Finance

In related news, COO Chad M. Smith sold 2,455 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $30.16, for a total value of $74,042.80. Following the completion of the sale, the chief operating officer directly owned 21,061 shares in the company, valued at $635,199.76. The trade was a 10.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Vishal Garg acquired 15,600 shares of the firm's stock in a transaction on Wednesday, May 20th. The stock was purchased at an average cost of $25.00 per share, for a total transaction of $390,000.00. Following the completion of the acquisition, the chief executive officer owned 118,260 shares in the company, valued at approximately $2,956,500. This represents a 15.20% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders acquired 51,433 shares of company stock valued at $1,334,148. 27.72% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Better Home & Finance

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. boosted its holdings in Better Home & Finance by 3.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 293,858 shares of the company's stock valued at $3,207,000 after purchasing an additional 8,924 shares during the period. Geode Capital Management LLC increased its holdings in shares of Better Home & Finance by 90.6% during the second quarter. Geode Capital Management LLC now owns 129,881 shares of the company's stock worth $1,609,000 after purchasing an additional 61,740 shares during the period. JPMorgan Chase & Co. bought a new position in shares of Better Home & Finance during the second quarter worth approximately $29,000. XTX Topco Ltd acquired a new stake in shares of Better Home & Finance in the second quarter valued at approximately $197,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Better Home & Finance in the second quarter valued at approximately $100,000. 20.94% of the stock is owned by institutional investors.

Better Home & Finance Company Profile

Better Home & Finance Holding Co engages in the provision of comprehensive homeownership services. It offers mortgage loans, real estate agent services, and title and homeowner's insurance services. The company was founded in 2014 and is headquartered in New York, NY.

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