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

Ibotta, Inc. (NYSE:IBTA) has been given a consensus rating of “Reduce” by the nine ratings firms that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $33.1429.

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

Insiders Place Their Bets

In related news, insider Marisa Daspit sold 2,956 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $24.06, for a total transaction of $71,121.36. Following the completion of the sale, the insider directly owned 127,597 shares of the company’s stock, valued at approximately $3,069,983.82. This represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 16.08% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of IBTA. CWM LLC boosted its position in shares of Ibotta by 50.8% in the third quarter. CWM LLC now owns 1,422 shares of the company’s stock worth $40,000 after buying an additional 479 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in shares of Ibotta by 187.5% during the 4th 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 period. Farther Finance Advisors LLC lifted 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 worth $55,000 after acquiring an additional 2,396 shares in the last quarter. Quantbot Technologies LP acquired a new position in Ibotta during the 2nd quarter worth approximately $66,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Ibotta by 144.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock worth $141,000 after acquiring an additional 2,274 shares during the period.

Ibotta Trading Up 5.5%

Shares of Ibotta stock opened at $27.71 on Friday. Ibotta has a twelve month low of $19.10 and a twelve month high of $62.74. The stock has a market capitalization of $587.73 million, a P/E ratio of 251.93 and a beta of -1.20. The business’s fifty day moving average price is $22.54 and its 200 day moving average price is $25.19.

Ibotta (NYSE:IBTA) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.30. The company 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%.The business’s revenue was down 10.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.67 earnings per share.

Ibotta declared that its Board of Directors has approved a share buyback plan on Wednesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 21.2% of its shares through open market purchases. Shares repurchase plans are often an indication 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.