Ibotta (NYSE:IBTA) Upgraded by UBS Group to "Hold" Rating

Key Points

• UBS Group upgraded Ibotta to “Hold,” joining six other analysts with hold ratings. MarketBeat reports an overall “Reduce” consensus and an average price target of $36.50.
• Ibotta shares rose 9.5% to open at $39.38, near the company’s 52-week high of $40.49. The stock has a market capitalization of approximately $795 million.
• Ibotta’s latest quarterly results beat expectations, with EPS of $0.24 versus consensus of a $0.21 loss, though revenue declined 2.5% year over year and the company remained unprofitable. Insiders sold about 619,581 shares worth $18.85 million over the past 90 days.

Ibotta (NYSE:IBTA - Get Free Report) was upgraded by investment analysts at UBS Group to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

IBTA has been the topic of a number of other research reports. Wells Fargo & Company increased their price objective on Ibotta from $38.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Evercore set a $42.00 target price on Ibotta in a research note on Tuesday. The Goldman Sachs Group raised their price target on Ibotta from $28.00 to $32.00 and gave the company a "sell" rating in a report on Tuesday. Weiss Ratings reiterated a "sell (d)" rating on shares of Ibotta in a research report on Wednesday, June 24th. Finally, Zacks Research raised Ibotta from a "strong sell" rating to a "hold" rating in a report on Monday, June 8th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $36.50.

Ibotta Trading Up 9.5%

Ibotta stock opened at $39.38 on Wednesday. The firm's 50 day simple moving average is $31.57 and its 200 day simple moving average is $29.25. The firm has a market capitalization of $795.48 million, a PE ratio of -83.79 and a beta of -0.44. Ibotta has a 1-year low of $19.10 and a 1-year high of $40.49.

Ibotta (NYSE:IBTA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.45. The firm had revenue of $82.48 million during the quarter. Ibotta had a negative net margin of 3.21% and a negative return on equity of 4.74%. The firm's revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 earnings per share. Research analysts forecast that Ibotta will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $30.15, for a total value of $15,075,000.00. Following the transaction, the insider owned 3,341,308 shares of the company's stock, valued at $100,740,436.20. This represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Luke Roy Swanson sold 5,940 shares of the firm's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $24.47, for a total value of $145,351.80. Following the sale, the chief technology officer owned 483,964 shares in the company, valued at $11,842,599.08. The trade was a 1.21% decrease in their position. 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. Over the last ninety days, insiders sold 619,581 shares of company stock worth $18,848,339. Corporate insiders own 20.92% of the company's stock.

Institutional Trading of Ibotta

A number of hedge funds have recently bought and sold shares of IBTA. Deutsche Bank AG raised its stake in shares of Ibotta by 3,449.8% during the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company's stock worth $8,408,000 after acquiring an additional 359,470 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Ibotta by 17.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company's stock valued at $43,749,000 after purchasing an additional 232,027 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Ibotta during the 2nd quarter valued at $8,397,000. Hsbc Holdings PLC lifted its stake in Ibotta by 29.4% in the fourth quarter. Hsbc Holdings PLC now owns 993,977 shares of the company's stock worth $22,210,000 after purchasing an additional 226,021 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Ibotta by 933.0% during the fourth quarter. Jane Street Group LLC now owns 224,529 shares of the company's stock valued at $5,104,000 after buying an additional 202,793 shares during the period.

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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