Ibotta, Inc. (NYSE:IBTA) Given Consensus Rating of "Reduce" by Analysts

Key Points

• Ibotta currently has a consensus analyst rating of "Reduce", with 3 sell ratings, 6 hold ratings and 1 buy rating across 10 covered brokerages. The average 12-month price target is $33.00.
• Recent analyst actions were mixed: Needham raised its target to $45 and kept a buy rating, while Wells Fargo lifted its target to $38 with an equal-weight view. Evercore set a $40 target, and Wall Street Zen upgraded the stock from sell to hold.
• Insiders have been selling shares, including director Thomas D. Lehrman and CTO Luke Roy Swanson, while institutional investors such as Vanguard, ARK and Citigroup increased their stakes. The company also authorized a $100 million share buyback, which may signal management believes the stock is undervalued.

Shares of Ibotta, Inc. (NYSE:IBTA - Get Free Report) have been given a consensus rating of "Reduce" by the ten brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $33.00.

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

Insider Activity

In related news, Director Thomas D. Lehrman sold 19,788 shares of the business's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $32.11, for a total transaction of $635,392.68. Following the transaction, the director directly owned 32,981 shares in the company, valued at approximately $1,059,019.91. The trade was a 37.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Luke Roy Swanson sold 5,940 shares of the business's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $32.98, for a total transaction of $195,901.20. Following the transaction, the chief technology officer owned 495,844 shares in the company, valued at approximately $16,352,935.12. The trade was a 1.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 107,701 shares of company stock worth $3,419,255 in the last quarter. 20.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ibotta

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company's stock worth $43,749,000 after purchasing an additional 232,027 shares during the period. Amova Asset Management Americas Inc. grew its holdings in Ibotta by 15.6% during the third quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company's stock worth $35,600,000 after purchasing an additional 172,314 shares during the period. Hsbc Holdings PLC grew its holdings in Ibotta by 1.5% during the first quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company's stock worth $30,581,000 after purchasing an additional 15,310 shares during the period. ARK Investment Management LLC grew its holdings in Ibotta by 39.3% during the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company's stock worth $25,271,000 after purchasing an additional 255,899 shares during the period. Finally, Citigroup Inc. grew its holdings in Ibotta by 90.2% during the third quarter. Citigroup Inc. now owns 641,337 shares of the company's stock worth $17,861,000 after purchasing an additional 304,183 shares during the period.

Ibotta Stock Down 0.7%

Shares of NYSE:IBTA opened at $30.48 on Tuesday. Ibotta has a 12 month low of $19.10 and a 12 month high of $41.14. The company's fifty day simple moving average is $33.50 and its 200 day simple moving average is $27.17. The firm has a market cap of $615.70 million, a price-to-earnings ratio of -89.65 and a beta of -0.59.

Ibotta (NYSE:IBTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of ($0.21) by $0.45. The business had revenue of $82.48 million for the quarter. Ibotta had a negative net margin of 2.15% and a negative return on equity of 2.39%. The company's revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.02 earnings per share. Research analysts expect that Ibotta will post 0.24 earnings per share for the current fiscal year.

Ibotta announced that its board has initiated a stock repurchase program on Wednesday, March 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 21.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is 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.

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