Ibotta, Inc. (NYSE:IBTA) Receives $33.14 Consensus Price Target from Brokerages
by Kim Johansen · The Markets DailyShares of Ibotta, Inc. (NYSE:IBTA – Get Free Report) have been assigned a consensus rating of “Reduce” from the nine analysts that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $33.1429.
Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Ibotta from a “hold” rating to a “sell” rating in a research report on Saturday, February 28th. Wells Fargo & Company upped their target price 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. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th.
Check Out Our Latest Stock Analysis on Ibotta
Insider Buying and Selling
In other news, insider Marisa Daspit sold 2,956 shares of the business’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $24.06, for a total value of $71,121.36. Following the completion of the transaction, the insider owned 127,597 shares in the company, valued at $3,069,983.82. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 16.08% of the company’s stock.
Institutional Investors Weigh In On Ibotta
Large investors have recently bought and sold shares of the business. Hsbc Holdings PLC raised its position in Ibotta by 29.4% in the 4th quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock worth $22,210,000 after buying an additional 226,021 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Ibotta by 335.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,754 shares of the company’s stock valued at $63,000 after acquiring an additional 2,122 shares during the last quarter. Aristides Capital LLC bought a new stake in shares of Ibotta in the fourth quarter worth approximately $220,000. Invesco Ltd. raised its holdings in shares of Ibotta by 21.6% during the fourth quarter. Invesco Ltd. now owns 8,892 shares of the company’s stock valued at $202,000 after purchasing an additional 1,581 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Ibotta during the fourth quarter valued at approximately $1,917,000.
Ibotta Trading Down 0.8%
Shares of NYSE:IBTA opened at $27.47 on Friday. The stock has a fifty day simple moving average of $22.66 and a two-hundred day simple moving average of $25.18. Ibotta has a 12-month low of $19.10 and a 12-month high of $62.74. The stock has a market capitalization of $582.64 million, a price-to-earnings ratio of 249.75 and a beta of -1.20.
Ibotta (NYSE:IBTA – Get Free Report) last released its earnings results on Wednesday, February 25th. The company reported $0.29 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.30. The firm had revenue of $88.53 million for the quarter. Ibotta had a return on equity of 1.04% and a net margin of 1.04%.The company’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.67 earnings per share.
Ibotta declared that its board has initiated a stock repurchase plan on Wednesday, March 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 21.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
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.