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

Key Points

• Analysts give Ibotta a consensus "Reduce" rating (3 sell, 5 hold, 1 buy) with an average 12‑month price target of $33.14.
• The board approved a $100 million stock repurchase plan, authorizing buybacks of up to 21.2% of shares outstanding.
• Latest quarter: Ibotta reported $0.29 EPS (vs. -$0.01 expected) while revenue declined 10% year‑over‑year to $88.53 million.

Shares of Ibotta, Inc. (NYSE:IBTA - Get Free Report) have earned a consensus rating of "Reduce" from the nine brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $33.1429.

IBTA has been the topic of a number of research reports. Weiss Ratings reiterated a "sell (d)" rating on shares of Ibotta in a research report on Monday, December 29th. Wall Street Zen lowered Ibotta from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Finally, Wells Fargo & Company upped their price objective on Ibotta from $30.00 to $34.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 26th.

Insider Activity at Ibotta

In related news, insider Marisa Daspit sold 2,956 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total value of $71,121.36. Following the sale, the insider owned 127,597 shares of the company's stock, valued at $3,069,983.82. This trade represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 16.08% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company's stock valued at $396,000 after purchasing an additional 515 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of Ibotta during the first quarter worth approximately $161,000. Goldman Sachs Group Inc. grew its holdings in Ibotta by 16.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company's stock worth $5,170,000 after buying an additional 17,421 shares in the last quarter. Intech Investment Management LLC grew its holdings in Ibotta by 64.5% in the 2nd quarter. Intech Investment Management LLC now owns 9,632 shares of the company's stock worth $353,000 after buying an additional 3,778 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Ibotta in the 2nd quarter valued at approximately $216,000.

Ibotta Stock Performance

NYSE IBTA opened at $23.42 on Friday. Ibotta has a one year low of $19.10 and a one year high of $62.74. The company has a 50-day simple moving average of $22.25 and a 200-day simple moving average of $25.18. The firm has a market capitalization of $496.74 million, a PE ratio of 212.93 and a beta of -1.20.

Ibotta (NYSE:IBTA - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.30. Ibotta had a net margin of 1.04% and a return on equity of 1.04%. The firm had revenue of $88.53 million for the quarter. During the same quarter last year, the company earned $0.67 EPS. Ibotta's revenue was down 10.0% compared to the same quarter last year.

Ibotta declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to buy up to 21.2% of its shares through open market purchases. Shares buyback plans are usually an indication 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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