Ibotta (NYSE:IBTA) Stock Rating Upgraded by UBS Group

Ibotta (NYSE:IBTA) was upgraded by stock analysts at UBS Group to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other analysts also recently commented on IBTA. Wells Fargo & Company boosted their price target on shares of Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Evercore set a $42.00 price objective on shares of Ibotta in a report on Tuesday. Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group increased their price target on Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday. One research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $36.50.

Ibotta Stock Performance

Shares of IBTA opened at $39.38 on Wednesday. Ibotta has a one year low of $19.10 and a one year high of $40.49. The stock’s fifty day moving average is $31.57 and its 200-day moving average is $29.25. The firm has a market capitalization of $795.48 million, a price-to-earnings ratio of -83.79 and a beta of -0.44.

Ibotta (NYSE:IBTA) last posted its quarterly earnings data 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 business had revenue of $82.48 million during the quarter. Ibotta had a negative net margin of 3.21% and a negative return on equity of 4.74%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 EPS. Analysts forecast that Ibotta will post 0.24 EPS for the current fiscal year.

Insider Activity

In other news, CTO Luke Roy Swanson sold 5,940 shares of the 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 completion of the sale, the chief technology officer owned 483,964 shares in the company, valued at approximately $11,842,599.08. This represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the director directly owned 32,981 shares of the company’s stock, valued at approximately $1,059,019.91. This represents a 37.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 619,581 shares of company stock worth $18,848,339. Insiders own 20.92% of the company’s stock.

Institutional Trading of Ibotta

Institutional investors and hedge funds have recently bought and sold shares of the stock. Essential Partners LLC boosted its holdings in shares of Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after buying an additional 816 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Ibotta during the first quarter valued at approximately $39,000. New York State Teachers Retirement System acquired a new stake in shares of Ibotta during the first quarter valued at approximately $39,000. Quantbot Technologies LP purchased a new stake in shares of Ibotta in the 2nd quarter valued at approximately $66,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Ibotta by 187.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after purchasing an additional 1,185 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.