Ibotta, Inc. (NYSE:IBTA) Receives Consensus Recommendation of “Reduce” from Brokerages

Shares of Ibotta, Inc. (NYSE:IBTA) have been given an average recommendation of “Reduce” by the nine ratings firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $33.1429.

A number of research firms have recently issued reports on IBTA. Wells Fargo & Company lifted their target price on shares of Ibotta from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Friday, March 27th. Finally, Wall Street Zen cut shares of Ibotta from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th.

Insider Activity

In other news, insider Marisa Daspit sold 2,956 shares of Ibotta stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $24.06, for a total value of $71,121.36. Following the completion of the transaction, the insider owned 127,597 shares in the company, valued at approximately $3,069,983.82. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 20.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. New York State Teachers Retirement System bought a new position in Ibotta in the 1st quarter worth approximately $39,000. CWM LLC raised its position in Ibotta by 50.8% in the 3rd quarter. CWM LLC now owns 1,422 shares of the company’s stock worth $40,000 after purchasing an additional 479 shares during the last quarter. Quantbot Technologies LP bought a new position in Ibotta in the 2nd quarter worth approximately $66,000. Caitong International Asset Management Co. Ltd raised its position in Ibotta by 187.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after purchasing an additional 1,185 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Ibotta by 47,920.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after purchasing an additional 2,396 shares during the last quarter.

Ibotta Stock Up 0.4%

Shares of IBTA opened at $35.28 on Monday. The stock has a market cap of $732.77 million, a price-to-earnings ratio of 320.76 and a beta of -0.61. Ibotta has a 12 month low of $19.10 and a 12 month high of $62.74. The company has a 50-day moving average price of $29.06 and a two-hundred day moving average price of $26.14.

Ibotta (NYSE:IBTA) last posted its earnings results on Wednesday, February 25th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.30. Ibotta had a net margin of 1.04% and a return on equity of 1.04%. The company had revenue of $88.53 million during the quarter. During the same quarter last year, the firm posted $0.67 EPS. The business’s revenue was down 10.0% on a year-over-year basis. Equities research analysts expect that Ibotta will post -0.42 EPS for the current fiscal year.

Ibotta declared that its board has initiated a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to reacquire up to 21.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Ibotta Company Profile

Ibotta (NYSE: IBTA) is a Denver‐based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big‐box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co‐founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.