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

Ibotta, Inc. (NYSE:IBTA) has been given an average rating of “Reduce” by the ten analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $33.00.

Several research firms recently weighed in on IBTA. Needham & Company LLC increased their price target on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” 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 research report on Saturday, May 9th. Evercore set a $40.00 price target on shares of Ibotta in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Finally, Wells Fargo & Company increased their price target on shares of Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th.

Ibotta Price Performance

Shares of IBTA stock opened at $34.58 on Friday. The firm has a 50-day moving average of $32.63 and a 200-day moving average of $26.30. The company has a market cap of $698.52 million, a P/E ratio of -101.71 and a beta of -0.61. Ibotta has a one year low of $19.10 and a one year high of $50.50.

Ibotta (NYSE:IBTA) last announced its earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.45. The company had revenue of $82.48 million during the quarter. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. As a group, research analysts expect that Ibotta will post 0.24 earnings per share for the current fiscal year.

Ibotta declared that its board has authorized a stock buyback plan on Wednesday, March 11th that authorizes the company to buyback $100.00 million in 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 an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Director Thomas D. Lehrman sold 30,119 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $30.78, for a total transaction of $927,062.82. Following the completion of the transaction, the director owned 40,744 shares in the company, valued at approximately $1,254,100.32. This represents a 42.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marisa Daspit sold 2,956 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total transaction of $71,121.36. Following the transaction, the insider owned 127,597 shares of the company’s stock, valued at approximately $3,069,983.82. The trade was a 2.26% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 104,717 shares of company stock valued at $3,294,475. 20.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ibotta

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Essential Partners LLC boosted its position in Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares during the period. New York State Teachers Retirement System bought a new position in Ibotta during the first quarter worth about $39,000. Meeder Asset Management Inc. bought a new position in Ibotta during the first quarter worth about $39,000. Caitong International Asset Management Co. Ltd boosted its position 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 worth $41,000 after purchasing an additional 1,185 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after purchasing an additional 2,396 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.