Analysts Set Ibotta, Inc. (NYSE:IBTA) PT at $33.14

Shares of Ibotta, Inc. (NYSE:IBTA) have received an average recommendation of “Reduce” from the nine brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $33.1429.

A number of brokerages recently commented on IBTA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research note on Monday, December 29th. Wall Street Zen downgraded shares of Ibotta from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Finally, Wells Fargo & Company upped their price objective on shares of Ibotta from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, February 26th.

Ibotta Price Performance

Shares of NYSE:IBTA opened at $25.63 on Friday. The stock’s 50-day moving average is $22.35 and its 200 day moving average is $25.16. The company has a market cap of $543.61 million, a PE ratio of 233.02 and a beta of -1.20. Ibotta has a 1 year low of $19.10 and a 1 year high of $62.74.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.30. The business had revenue of $88.53 million during the quarter. Ibotta had a return on equity of 1.04% and a net margin of 1.04%.During the same quarter last year, the business posted $0.67 EPS. The company’s quarterly revenue was down 10.0% compared to the same quarter last year.

Ibotta declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 21.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Ibotta

In other Ibotta news, insider Marisa Daspit sold 2,956 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 127,597 shares in the company, valued at $3,069,983.82. This trade represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 16.08% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Ibotta by 2.0% in the 3rd quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock worth $536,000 after acquiring an additional 380 shares in the last quarter. CWM LLC boosted its position in shares of Ibotta by 50.8% during the third quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after purchasing an additional 479 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ibotta by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock valued at $396,000 after purchasing an additional 515 shares in the last quarter. Quantbot Technologies LP grew its stake in Ibotta by 34.6% in the third quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock worth $67,000 after purchasing an additional 622 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Ibotta by 5.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,769 shares of the company’s stock worth $404,000 after purchasing an additional 855 shares during the period.

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.