Ibotta, Inc. (NYSE:IBTA) Given Average Rating of “Reduce” by Analysts

Shares of Ibotta, Inc. (NYSE:IBTA) have been given a consensus rating of “Reduce” by the ten brokerages that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.8333.

IBTA has been the subject of a number of analyst reports. The Goldman Sachs Group decreased their price target on Ibotta from $32.00 to $28.00 and set a “sell” rating for the company in a report on Wednesday, July 8th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Needham & Company LLC raised their price target on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Wells Fargo & Company lifted their price target on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th.

Insider Activity

In other Ibotta news, CTO Luke Roy Swanson sold 5,940 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $35.14, for a total transaction of $208,731.60. Following the transaction, the chief technology officer directly owned 489,904 shares in the company, valued at $17,215,226.56. This represents a 1.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas D. Lehrman sold 19,788 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $32.11, for a total transaction of $635,392.68. Following the completion of the sale, the director owned 32,981 shares in the company, valued at approximately $1,059,019.91. This trade represents a 37.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 613,641 shares of company stock worth $18,702,987 over the last ninety days. Corporate insiders own 20.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Essential Partners LLC grew its position in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Ibotta during the 1st quarter valued at approximately $39,000. New York State Teachers Retirement System bought a new position in Ibotta during the first quarter worth $39,000. Quantbot Technologies LP bought a new position in Ibotta during the second quarter worth $66,000. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Ibotta by 187.5% in the fourth 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 period.

Ibotta Price Performance

Shares of IBTA opened at $31.63 on Friday. The stock’s 50-day moving average is $32.47 and its two-hundred day moving average is $28.51. The stock has a market cap of $638.93 million, a PE ratio of -93.03 and a beta of -0.59. Ibotta has a 12 month low of $19.10 and a 12 month high of $41.14.

Ibotta (NYSE:IBTA) last posted its earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. The business had revenue of $82.48 million during the quarter. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.Ibotta’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. On average, research analysts anticipate that Ibotta will post 0.24 earnings per share for the current year.

About Ibotta

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.