Ibotta, Inc. (NYSE:IBTA) Stock Has Consensus Target Price of $36.50 According to Brokerages

Key Points

• Analysts have a consensus “Reduce” rating on Ibotta, with three sells, four holds and one buy; the average 12-month price target is $36.50.
• IBTA opened at $48.55, well above the consensus target, after trading between $19.10 and $50.53 over the past year. The company has a market capitalization of approximately $981 million and a negative price-to-earnings ratio.
• Insiders have sold 141,832 shares worth about $5.56 million over the past 90 days, although the reported transactions were conducted under pre-arranged Rule 10b5-1 plans. Several institutional investors, including HSBC, Renaissance Technologies and Bank of America, increased their positions.

Shares of Ibotta, Inc. (NYSE:IBTA - Get Free Report) have earned an average recommendation of "Reduce" from the eight analysts that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.50.

A number of research firms have commented on IBTA. UBS Group boosted their price objective on Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of Ibotta in a research note on Tuesday, August 4th. The Goldman Sachs Group lifted their price target on Ibotta from $28.00 to $32.00 and gave the company a "sell" rating in a report on Tuesday, August 4th. Evercore set a $42.00 price target on shares of Ibotta in a research report on Tuesday, August 4th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Ibotta in a report on Monday, September 21st.

Ibotta Price Performance

IBTA stock opened at $48.55 on Monday. The business has a fifty day moving average price of $41.08 and a 200 day moving average price of $35.72. Ibotta has a fifty-two week low of $19.10 and a fifty-two week high of $50.53. The stock has a market capitalization of $980.71 million, a price-to-earnings ratio of -103.30 and a beta of -0.29.

Insider Transactions at Ibotta

In other news, CTO Luke Swanson sold 20,100 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $40.04, for a total transaction of $804,804.00. Following the transaction, the chief technology officer directly owned 446,032 shares in the company, valued at approximately $17,859,121.28. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas Lehrman sold 19,561 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $36.22, for a total transaction of $708,499.42. Following the transaction, the director owned 25,312 shares in the company, valued at $916,800.64. The trade was a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 141,832 shares of company stock valued at $5,558,382. Insiders own 20.92% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC boosted its position in Ibotta by 1.5% in the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company's stock valued at $30,581,000 after buying an additional 15,310 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Ibotta by 17.7% during the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company's stock worth $7,172,000 after acquiring an additional 35,992 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Ibotta by 17.8% during the first quarter. Bank of America Corp DE now owns 239,167 shares of the company's stock valued at $7,168,000 after acquiring an additional 36,223 shares during the period. Sei Investments Co. acquired a new position in shares of Ibotta during the first quarter valued at $344,000. Finally, Engineers Gate Manager LP acquired a new position in shares of Ibotta during the second quarter valued at $328,000.

Ibotta News Summary

Here are the key news stories impacting Ibotta this week:

• Neutral Sentiment: All reported transactions were executed under pre-arranged Rule 10b5-1 trading plans, which reduces their significance as a discretionary signal that executives expect the stock to fall. CTO Luke Swanson and insider Marisa Daspit continue to own substantial positions. SEC Form 4 filing
• Negative Sentiment: CTO Luke Swanson sold a combined 25,018 shares in four transactions on October 21 and 22 for approximately $1.25 million. Although the sales reduced his holdings by relatively small percentages, repeated selling by a senior technology executive may weigh on sentiment and reinforce concerns about insider profit-taking. Luke Swanson SEC Form 4 filing
• Negative Sentiment: Marisa Daspit sold an additional 746 shares for approximately $37,375 across two transactions. The sales were small relative to her remaining stake, but the filings add to the overall pattern of insider selling in Ibotta stock. Marisa Daspit SEC Form 4 filing

About Ibotta

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company's offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.

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