Ibotta (NYSE:IBTA) Shares Gap Up - Time to Buy?

Key Points

• Shares gapped up — Ibotta opened at $35.83 (last traded $35.72), trading above the consensus price target of $33.14.
• Ibotta reported quarterly EPS of $0.29, beating estimates by $0.30, while revenue declined 10% year‑over‑year to $88.5 million.
• The board authorized a $100 million share buyback (up to 21.2% of shares) even as analysts remain mixed, with a consensus rating of "Reduce" (one Buy, five Hold, three Sell).

Ibotta, Inc. (NYSE:IBTA - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $33.64, but opened at $35.83. Ibotta shares last traded at $35.72, with a volume of 3,045 shares trading hands.

Analysts Set New Price Targets

IBTA has been the subject of several research analyst reports. Wall Street Zen downgraded Ibotta from a "hold" rating to a "sell" rating in a research report on Saturday, February 28th. Wells Fargo & Company lifted their price objective on Ibotta from $30.00 to $34.00 and gave the company an "equal weight" rating in a research report on Thursday, February 26th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Ibotta in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Ibotta currently has an average rating of "Reduce" and a consensus price target of $33.14.

Ibotta Stock Performance

The stock has a market cap of $741.49 million, a P/E ratio of 324.57 and a beta of -1.68. The company has a 50-day simple moving average of $25.83 and a 200-day simple moving average of $25.72.

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

Ibotta announced that its board has authorized a share repurchase program on Wednesday, March 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to reacquire up to 21.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Ibotta

In other news, insider Marisa Daspit sold 2,956 shares of the business's stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $24.06, for a total transaction of $71,121.36. Following the completion of the sale, the insider owned 127,597 shares in the company, valued at $3,069,983.82. The trade was a 2.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 16.08% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ibotta

A number of institutional investors and hedge funds have recently made changes to their positions in IBTA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ibotta by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company's stock worth $396,000 after acquiring an additional 515 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Ibotta during the first quarter worth $161,000. Goldman Sachs Group Inc. raised its position in shares of Ibotta by 16.6% during the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company's stock worth $5,170,000 after acquiring an additional 17,421 shares during the last quarter. Legal & General Group Plc increased its holdings in Ibotta by 43.5% in the second quarter. Legal & General Group Plc now owns 12,349 shares of the company's stock valued at $452,000 after purchasing an additional 3,746 shares during the last quarter. Finally, Norges Bank bought a new stake in Ibotta in the second quarter valued at about $781,000.

Ibotta Company Profile

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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