Better Home & Finance Holding (BETR) PT Lowered to $25 at Needham

Needham analyst Kyle Peterson lowered the price target on Better Home & Finance Holding (NASDAQ: BETR) to $25.00 (from $35.00) while maintaining a Buy rating.

The analyst comments "BETR's 2Q results were in-line with the pre-announced results from earlier this week. That being said, 3Q guidance came in well below Street estimates, as the company is now streamlining its focus and resources on the enterprise/partnership opportunities and accelerating growth in the HELOC business. While we expect investors will be disappointed with the soft NT outlook, we believe this is the right long-term decision as it will reduce interest rate sensitivity, streamline organizational efficiency, and reduce the need for significant customer acquisition spend. While it is likely to take a few quarters for the progress to show up in results, we believe the risk-reward is favorable with the shares trading at an EV/FY27 revenue multiple of ~1x. We are reiterating our Buy rating but lowering our target to $25."

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