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

Ibotta, Inc. (NYSE:IBTA) has received an average recommendation of “Reduce” from the ten ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $33.8333.

A number of research analysts have recently issued reports on IBTA shares. The Goldman Sachs Group dropped their price target on shares of Ibotta from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Wednesday, July 8th. Needham & Company LLC increased their price objective on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Zacks Research raised shares of Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. Evercore set a $40.00 target price on shares of Ibotta in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th.

Insider Buying and Selling

In other news, CTO Luke Roy Swanson sold 5,940 shares of the stock in a transaction dated Wednesday, July 1st. The shares were 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 of the company’s stock, valued at $17,215,226.56. This represents a 1.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of the firm’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $30.15, for a total value of $15,075,000.00. Following the completion of the sale, the insider owned 3,341,308 shares of the company’s stock, valued at approximately $100,740,436.20. This represents a 13.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 613,641 shares of company stock valued at $18,702,987 over the last ninety days. 20.92% of the stock is owned by corporate insiders.

Institutional Trading of Ibotta

Several institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Ibotta by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after purchasing an additional 515 shares during the period. Quantbot Technologies LP grew its holdings in Ibotta by 34.6% during the third quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock valued at $67,000 after purchasing an additional 622 shares during the period. Essential Partners LLC grew its holdings in Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after purchasing an additional 816 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ibotta by 5.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,769 shares of the company’s stock worth $404,000 after buying an additional 855 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Ibotta by 9.0% in the third quarter. Legal & General Group Plc now owns 13,461 shares of the company’s stock valued at $375,000 after buying an additional 1,112 shares during the period.

Ibotta Price Performance

Shares of IBTA opened at $26.07 on Friday. The business has a 50-day moving average of $32.11 and a 200-day moving average of $28.70. The company has a market capitalization of $526.61 million, a price-to-earnings ratio of -76.68 and a beta of -0.59. Ibotta has a 1 year low of $19.10 and a 1 year high of $40.49.

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 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 quarter in the previous year, the company earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Ibotta will post 0.24 EPS 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.