Brokerages Set Ibotta, Inc. (NYSE:IBTA) Target Price at $33.14

Ibotta, Inc. (NYSE:IBTA) has received a consensus rating of “Reduce” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $33.1429.

A number of equities research analysts have weighed in on the stock. Wall Street Zen downgraded shares of Ibotta from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Friday, March 27th. Finally, Wells Fargo & Company increased their target price on shares of Ibotta from $30.00 to $34.00 and gave the company an “equal weight” rating in a research note on Thursday, February 26th.

Ibotta Stock Performance

Shares of NYSE IBTA opened at $33.39 on Thursday. Ibotta has a 1 year low of $19.10 and a 1 year high of $62.74. The firm has a market cap of $693.51 million, a P/E ratio of 303.57 and a beta of -1.68. The stock has a fifty day moving average price of $25.28 and a two-hundred day moving average price of $25.61.

Ibotta (NYSE:IBTA) last announced its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.30. The business had revenue of $88.53 million during the quarter. Ibotta had a return on equity of 1.04% and a net margin of 1.04%.The company’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 EPS.

Ibotta declared that its board has initiated a stock buyback plan on Wednesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 21.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Ibotta

In other news, insider Marisa Daspit sold 2,956 shares of the firm’s stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $24.06, for a total transaction of $71,121.36. Following the completion of the sale, the insider directly owned 127,597 shares of the company’s stock, valued at $3,069,983.82. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 16.08% of the company’s stock.

Institutional Investors Weigh In On Ibotta

Several hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Ibotta by 50.8% in the 3rd quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after purchasing an additional 479 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Ibotta by 187.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after buying an additional 1,185 shares during the period. Farther Finance Advisors LLC lifted its stake in Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after buying an additional 2,396 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Ibotta in the second quarter worth about $66,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Ibotta by 144.2% in the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock worth $141,000 after acquiring an additional 2,274 shares in the last quarter.

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.