Ibotta, Inc. (NYSE:IBTA) Receives $36.50 Consensus PT from Brokerages

Ibotta, Inc. (NYSE:IBTA) has been assigned a consensus recommendation of “Reduce” from the eight brokerages that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $36.50.

A number of equities research analysts have recently weighed in on IBTA shares. Wells Fargo & Company raised their price target 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 reissued a “sell (d)” rating on shares of Ibotta in a research note on Wednesday, June 24th. The Goldman Sachs Group increased their price objective on Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a report on Tuesday, August 4th. UBS Group lifted their target price on shares of Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Evercore set a $42.00 target price on shares of Ibotta in a research report on Tuesday, August 4th.

Ibotta Trading Up 2.9%

IBTA opened at $36.97 on Wednesday. The stock has a market cap of $746.79 million, a price-to-earnings ratio of -78.66 and a beta of -0.43. Ibotta has a 1 year low of $19.10 and a 1 year high of $40.49. The stock has a fifty day moving average price of $32.02 and a 200 day moving average price of $29.98.

Insider Activity at Ibotta

In other Ibotta news, Director Thomas D. Lehrman sold 14,347 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $37.28, for a total transaction of $534,856.16. Following the transaction, the director directly owned 16,490 shares in the company, valued at $614,747.20. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Luke Roy Swanson sold 5,940 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $24.47, for a total value of $145,351.80. Following the completion of the sale, the chief technology officer directly owned 483,964 shares of the company’s stock, valued at $11,842,599.08. This represents a 1.21% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 591,300 shares of company stock valued at $18,316,717. Insiders own 20.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in IBTA. Essential Partners LLC boosted its position in 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 purchasing an additional 816 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Ibotta in the first quarter worth $39,000. New York State Teachers Retirement System acquired a new stake in shares of Ibotta in the first quarter worth $39,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of 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. Finally, Farther Finance Advisors LLC grew its stake in Ibotta by 47,920.0% in the 4th 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 during 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.