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

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

A number of research firms recently issued reports on IBTA. The Goldman Sachs Group lowered their target price on shares of Ibotta from $32.00 to $28.00 and set a “sell” rating on the stock in a research note on Wednesday, July 8th. Evercore set a $40.00 price target on shares of Ibotta in a report on Thursday, May 7th. Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th.

Insider Transactions at Ibotta

In related news, Director Thomas D. Lehrman sold 19,788 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.11, for a total transaction of $635,392.68. Following the transaction, the director owned 32,981 shares of the company’s stock, valued at approximately $1,059,019.91. The trade was a 37.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Luke Roy Swanson sold 5,940 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $35.14, for a total transaction of $208,731.60. Following the transaction, the chief technology officer owned 489,904 shares in the company, valued at approximately $17,215,226.56. The trade was a 1.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 613,641 shares of company stock worth $18,702,987. Insiders own 20.92% of the company’s stock.

Hedge Funds Weigh In On Ibotta

Several large investors have recently added to or reduced their stakes in the company. Essential Partners LLC grew its holdings in shares of Ibotta by 40,800.0% during the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares in the last quarter. Bank of America Corp DE increased its holdings in Ibotta by 17.8% in the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after buying an additional 36,223 shares during the period. Renaissance Technologies LLC raised its stake in shares of Ibotta by 17.7% in the 1st quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock valued at $7,172,000 after buying an additional 35,992 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Ibotta in the 1st quarter valued at $344,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Ibotta during the 1st quarter worth about $39,000.

Ibotta Price Performance

Ibotta stock opened at $27.26 on Friday. Ibotta has a one year low of $19.10 and a one year high of $41.14. The company’s fifty day moving average price is $32.27 and its two-hundred day moving average price is $28.70. The company has a market capitalization of $550.65 million, a price-to-earnings ratio of -80.18 and a beta of -0.59.

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

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.