Ibotta (NYSE:IBTA) Stock Price Down 5.7% – Time to Sell?

Shares of Ibotta, Inc. (NYSE:IBTA) were down 5.7% on Monday . The company traded as low as $32.11 and last traded at $33.54. Approximately 37,607 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 260,506 shares. The stock had previously closed at $35.57.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC increased their price target on 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 raised shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Evercore set a $40.00 price target on shares of Ibotta in a research report on Thursday, May 7th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $33.00.

Ibotta Trading Down 7.3%

The business’s fifty day moving average is $33.31 and its 200 day moving average is $27.88. The company has a market cap of $666.40 million, a P/E ratio of -97.03 and a beta of -0.59.

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

Ibotta declared that its board has authorized a share repurchase plan on Wednesday, March 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to purchase up to 21.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Thomas D. Lehrman sold 19,788 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $32.11, for a total value of $635,392.68. Following the completion of the transaction, the director directly owned 32,981 shares of the company’s stock, valued at $1,059,019.91. This trade represents a 37.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Luke Roy Swanson sold 5,940 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $32.98, for a total value of $195,901.20. Following the sale, the chief technology officer owned 495,844 shares in the company, valued at approximately $16,352,935.12. The trade was a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 107,701 shares of company stock worth $3,419,255 in the last three months. Insiders own 20.92% of the company’s stock.

Hedge Funds Weigh In On Ibotta

Several hedge funds have recently bought and sold shares of IBTA. Vanguard Group Inc. increased its holdings in Ibotta by 17.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after acquiring an additional 232,027 shares during the period. Hsbc Holdings PLC boosted its holdings in Ibotta by 1.5% in the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock valued at $30,581,000 after purchasing an additional 15,310 shares during the period. BNP Paribas Financial Markets grew its position in shares of Ibotta by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 407,936 shares of the company’s stock valued at $11,361,000 after purchasing an additional 76,835 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Ibotta by 3,449.8% in the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock worth $8,408,000 after purchasing an additional 359,470 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Ibotta by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 327,479 shares of the company’s stock worth $7,445,000 after purchasing an additional 3,000 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.