Better Home & Finance (NASDAQ:BETR) Given New $35.00 Price Target at Needham & Company LLC

Key Points

• Needham & Company cut its price target on Better Home & Finance to $35 from $53, while keeping a buy rating on the stock. The new target still implies upside from the prior close.
• Analyst sentiment remains mixed but constructive overall: six analysts rate BETR a Buy, one rates it Sell, and the consensus target price is $36.33.
• Shares recently traded at $21.80, below both the 50-day and 200-day moving averages, while insider activity has included a notable purchase by Director Hugh R. Frater and a sale by COO Chad M. Smith.

Better Home & Finance (NASDAQ:BETR - Get Free Report) had its price target decreased by analysts at Needham & Company LLC from $53.00 to $35.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective would indicate a potential upside of 60.55% from the stock's previous close.

Several other research firms have also issued reports on BETR. Wall Street Zen upgraded shares of Better Home & Finance from a "strong sell" rating to a "sell" rating in a research report on Monday. Canaccord Genuity Group initiated coverage on Better Home & Finance in a research report on Thursday, June 18th. They set a "buy" rating and a $42.00 price objective for the company. BTIG Research began coverage on Better Home & Finance in a research note on Tuesday, June 16th. They set a "buy" rating and a $36.00 price objective for the company. Weiss Ratings restated a "sell (e+)" rating on shares of Better Home & Finance in a report on Friday, July 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $32.00 target price on shares of Better Home & Finance in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Better Home & Finance presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.33.

Better Home & Finance Price Performance

Shares of BETR opened at $21.80 on Friday. The firm's 50 day moving average is $26.13 and its 200-day moving average is $31.17. Better Home & Finance has a 12-month low of $12.57 and a 12-month high of $94.06. The stock has a market capitalization of $411.37 million, a P/E ratio of -1.85 and a beta of 1.71.

Insider Buying and Selling at Better Home & Finance

In other Better Home & Finance news, Director Hugh R. Frater bought 5,150 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $24.34 per share, with a total value of $125,351.00. Following the completion of the transaction, the director directly owned 6,326 shares of the company's stock, valued at $153,974.84. This represents a 437.93% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Chad M. Smith sold 2,455 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $635,199.76. This represents a 10.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have bought 51,433 shares of company stock valued at $1,334,148. Company insiders own 27.72% of the company's stock.

Institutional Investors Weigh In On Better Home & Finance

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. acquired a new position in Better Home & Finance during the third quarter valued at approximately $31,000. Activest Wealth Management bought a new stake in shares of Better Home & Finance during the 4th quarter worth $59,000. JPMorgan Chase & Co. bought a new stake in shares of Better Home & Finance during the 2nd quarter worth $29,000. New York State Common Retirement Fund grew its stake in Better Home & Finance by 257.1% in the 4th quarter. New York State Common Retirement Fund now owns 2,500 shares of the company's stock valued at $81,000 after buying an additional 1,800 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Better Home & Finance in the 2nd quarter valued at $33,000. 20.94% of the stock is currently owned by institutional investors and hedge funds.

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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