Analysts Set Ibotta, Inc. (NYSE:IBTA) PT at $36.50

Shares of Ibotta, Inc. (NYSE:IBTA) have received an average rating of “Reduce” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.50.

Several research firms have weighed in on IBTA. Wells Fargo & Company upped their target price on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. Evercore set a $42.00 target price on Ibotta in a research report on Tuesday, August 4th. The Goldman Sachs Group boosted their target price on Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, August 4th. Finally, Zacks Research raised shares of Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th.

Insider Activity at Ibotta

In related news, Director Thomas Lehrman sold 19,561 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $36.22, for a total value of $708,499.42. Following the completion of the transaction, the director owned 25,312 shares of the company’s stock, valued at $916,800.64. This represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Luke Swanson sold 5,940 shares of the business’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $24.47, for a total transaction of $145,351.80. Following the sale, the chief technology officer directly owned 483,964 shares in the company, valued at approximately $11,842,599.08. The trade was a 1.21% 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. Insiders sold a total of 595,968 shares of company stock valued at $18,514,451 in the last quarter. Insiders own 20.92% of the company’s stock.

Institutional Investors Weigh In On Ibotta

Several large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC grew its stake in shares of Ibotta by 29.4% in the 4th quarter. Hsbc Holdings PLC now owns 993,977 shares of the company’s stock valued at $22,210,000 after buying an additional 226,021 shares during the period. Bank of America Corp DE raised its stake in Ibotta by 17.8% during the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock worth $7,168,000 after buying an additional 36,223 shares during the period. Renaissance Technologies LLC boosted its holdings in Ibotta by 17.7% in the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock worth $7,172,000 after acquiring an additional 35,992 shares in the last quarter. FourThought Financial Partners LLC bought a new position in Ibotta in the fourth quarter worth approximately $526,000. Finally, Essential Partners LLC grew its stake in Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock valued at $25,000 after acquiring an additional 816 shares during the period.

Ibotta Trading Up 2.5%

Shares of Ibotta stock opened at $41.15 on Friday. The company has a market cap of $831.23 million, a PE ratio of -87.55 and a beta of -0.25. The company has a 50 day moving average of $34.05 and a 200-day moving average of $32.07. Ibotta has a 1-year low of $19.10 and a 1-year high of $41.81.

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.