Brokerages Set Ibotta, Inc. (NYSE:IBTA) Price Target at $33.00

Ibotta, Inc. (NYSE:IBTA) has earned an average rating of “Reduce” from the ten analysts that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $33.00.

A number of analysts have issued reports on IBTA shares. Needham & Company LLC boosted their target price on Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company boosted their target price on Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Evercore set a $40.00 target price on Ibotta in a research report on Thursday, May 7th.

Insider Buying and Selling at Ibotta

In other news, Director Thomas D. Lehrman sold 19,788 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $32.11, for a total transaction of $635,392.68. Following the sale, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 101,761 shares of company stock worth $3,223,354 over the last 90 days. 20.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Ibotta

A number of large investors have recently modified their holdings of IBTA. Essential Partners LLC increased its position in shares of Ibotta by 40,800.0% during the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Ibotta during the first quarter worth $39,000. Meeder Asset Management Inc. purchased a new stake in shares of Ibotta during the first quarter worth $39,000. Caitong International Asset Management Co. Ltd increased its position in shares of Ibotta by 187.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after acquiring an additional 1,185 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after acquiring an additional 2,396 shares during the period.

Ibotta Stock Performance

IBTA opened at $32.85 on Friday. Ibotta has a one year low of $19.10 and a one year high of $50.01. The stock has a market capitalization of $663.57 million, a PE ratio of -96.62 and a beta of -0.59. The business’s 50 day moving average price is $33.30 and its 200 day moving average price is $26.50.

Ibotta (NYSE:IBTA) last announced its earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. The company 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 firm’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 firm earned $0.02 EPS. As a group, equities research analysts forecast that Ibotta will post 0.24 earnings per share for the current fiscal year.

Ibotta announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 21.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.