Analysts Set Ibotta, Inc. (NYSE:IBTA) PT at $33.83

Shares of Ibotta, Inc. (NYSE:IBTA) have been assigned an average rating of “Reduce” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $33.8333.

Several equities analysts have commented on IBTA shares. Needham & Company LLC upped their price objective on Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company lifted their target price on Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Evercore set a $40.00 price target on shares of Ibotta in a research note on Thursday, May 7th. Finally, Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th.

Insider Transactions at Ibotta

In other news, CTO Luke Roy Swanson sold 5,940 shares of Ibotta stock in a transaction that occurred 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 completion of the sale, the chief technology officer owned 489,904 shares of the company’s stock, valued at approximately $17,215,226.56. The trade was a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.15, for a total value of $15,075,000.00. Following the completion of the sale, the insider owned 3,341,308 shares of the company’s stock, valued at $100,740,436.20. The trade was a 13.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 613,641 shares of company stock valued at $18,702,987. 20.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ibotta

Several hedge funds have recently made changes to their positions in IBTA. Essential Partners LLC increased its stake in shares of Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after buying an additional 816 shares during the period. Meeder Asset Management Inc. purchased a new stake in Ibotta in the first quarter worth about $39,000. New York State Teachers Retirement System bought a new position in Ibotta during the 1st quarter worth about $39,000. Caitong International Asset Management Co. Ltd grew its holdings in Ibotta by 187.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in Ibotta by 47,920.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after purchasing an additional 2,396 shares during the period.

Ibotta Price Performance

Shares of NYSE IBTA opened at $32.31 on Friday. The company has a market cap of $652.66 million, a P/E ratio of -95.03 and a beta of -0.59. Ibotta has a 1 year low of $19.10 and a 1 year high of $41.14. The firm has a 50-day simple moving average of $32.46 and a two-hundred day simple moving average of $28.62.

Ibotta (NYSE:IBTA) last released its earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm had revenue of $82.48 million for the quarter. During the same period in the prior year, the company posted $0.02 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities research analysts expect that Ibotta will post 0.24 EPS 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.