Ibotta, Inc. (NYSE:IBTA) Receives $36.50 Consensus Target Price from Brokerages

Ibotta, Inc. (NYSE:IBTA) has earned a consensus rating of “Reduce” from the eight analysts that are covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $36.50.

A number of equities research analysts have weighed in on IBTA shares. Evercore set a $42.00 target price on shares of Ibotta in a research note on Tuesday, August 4th. UBS Group raised their price target on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group lifted their price objective on Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a report on Tuesday, August 4th. Zacks Research upgraded Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, Wells Fargo & Company increased their target price on Ibotta from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Tuesday, August 4th.

Ibotta Stock Up 2.0%

Shares of Ibotta stock opened at $39.91 on Friday. Ibotta has a twelve month low of $19.10 and a twelve month high of $40.49. The company’s 50 day moving average is $33.93 and its 200 day moving average is $32.01. The company has a market cap of $806.18 million, a price-to-earnings ratio of -84.91 and a beta of -0.25.

Insider Activity

In related news, CTO Luke Swanson sold 5,940 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $36.96, for a total value of $219,542.40. Following the transaction, the chief technology officer owned 466,132 shares of the company’s stock, valued at approximately $17,228,238.72. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marisa Daspit sold 2,956 shares of the business’s stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $37.46, for a total transaction of $110,731.76. Following the sale, the insider owned 117,251 shares of the company’s stock, valued at $4,392,222.46. This trade represents a 2.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 595,968 shares of company stock valued at $18,514,451 in the last quarter. 20.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Essential Partners LLC grew its position in shares of Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after acquiring an additional 816 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Ibotta in the first quarter worth $39,000. New York State Teachers Retirement System bought a new position in shares of Ibotta during the 1st quarter valued at about $39,000. Caitong International Asset Management Co. Ltd boosted its stake in Ibotta by 187.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after buying an additional 1,185 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in shares of Ibotta during the 2nd quarter valued at approximately $66,000.

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.