Ibotta, Inc. (NYSE:IBTA) Receives Consensus Rating of "Reduce" from Analysts

Key Points

• Analysts collectively rate Ibotta “Reduce.” Of eight analysts, three recommend selling, four advise holding and one recommends buying; the average 12-month price target is $36.50.
• Ibotta shares opened at $38.34, up 2.7%, with a market capitalization of about $774 million. The stock remains below its 52-week high of $40.49 but above its 50-day and 200-day moving averages.
• Insiders sold approximately $18.5 million of stock during the last quarter, including sales by an insider and the chief technology officer under pre-arranged Rule 10b5-1 plans; insiders still own 20.92% of the company.

Shares of Ibotta, Inc. (NYSE:IBTA - Get Free Report) have been assigned an average recommendation of "Reduce" from the eight ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $36.50.

A number of brokerages recently commented on IBTA. The Goldman Sachs Group raised their price objective on shares of Ibotta from $28.00 to $32.00 and gave the company a "sell" rating in a research report on Tuesday, August 4th. UBS Group boosted their target price on Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a "sell (d)" rating on shares of Ibotta in a research note on Wednesday, June 24th. Zacks Research raised Ibotta from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. Finally, Wall Street Zen upgraded Ibotta from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th.

Ibotta Stock Up 2.7%

Shares of NYSE:IBTA opened at $38.34 on Friday. The company has a market cap of $774.47 million, a price-to-earnings ratio of -81.57 and a beta of -0.25. The firm's 50-day simple moving average is $33.61 and its 200-day simple moving average is $31.44. Ibotta has a fifty-two week low of $19.10 and a fifty-two week high of $40.49.

Insider Buying and Selling at Ibotta

In other Ibotta news, insider Marisa Daspit sold 2,956 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $37.46, for a total transaction of $110,731.76. Following the sale, the insider directly owned 117,251 shares in the company, valued at approximately $4,392,222.46. The trade was a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Luke Swanson sold 5,940 shares of the company's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $36.96, for a total transaction of $219,542.40. Following the transaction, the chief technology officer directly owned 466,132 shares in the company, valued at approximately $17,228,238.72. This trade represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 595,968 shares of company stock valued at $18,514,451. 20.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ibotta

Hedge funds and other institutional investors have recently modified their holdings of the stock. Essential Partners LLC grew its holdings in shares of Ibotta by 40,800.0% in the 1st 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. Meeder Asset Management Inc. acquired a new position in Ibotta during the first quarter worth $39,000. New York State Teachers Retirement System purchased a new stake in Ibotta during the first quarter worth $39,000. Quantbot Technologies LP acquired a new stake in Ibotta in the second quarter valued at $66,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Ibotta by 187.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company's stock valued at $41,000 after purchasing an additional 1,185 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.

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