Ibotta (NYSE:IBTA) Upgraded to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen upgraded Ibotta from “sell” to “hold”, while the broader analyst view remains cautious with a consensus rating of “Reduce” and an average price target of $36.57.
• Ibotta reported Q1 EPS of $0.24, beating estimates, and revenue of $82.48 million, though sales were still down 2.5% year over year and the company remains unprofitable.
• The company authorized a $100 million share repurchase program, which could signal management believes the stock is undervalued; meanwhile, several firms, including Needham and Wells Fargo, raised their price targets after the earnings update.

Ibotta (NYSE:IBTA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently issued reports on IBTA. Evercore set a $40.00 price objective on Ibotta in a research note on Thursday. Needham & Company LLC upped their price objective on Ibotta from $33.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of Ibotta in a research note on Friday, March 27th. Finally, Wells Fargo & Company upped their price objective on Ibotta from $34.00 to $38.00 and gave the company an "equal weight" rating in a research note on Thursday. One analyst has rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $36.57.

Ibotta Price Performance

Shares of NYSE:IBTA opened at $35.43 on Friday. The company has a market capitalization of $715.69 million, a PE ratio of -104.21 and a beta of -0.61. The business has a fifty day moving average price of $30.00 and a two-hundred day moving average price of $26.25. Ibotta has a 1 year low of $19.10 and a 1 year high of $62.74.

Ibotta (NYSE:IBTA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.21) by $0.45. The firm had revenue of $82.48 million during the quarter. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm's revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. Sell-side analysts anticipate that Ibotta will post -0.42 earnings per share for the current year.

Ibotta declared that its board has authorized a stock 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 generally a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Ibotta

In other news, insider Marisa Daspit sold 2,956 shares of the 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 transaction, the insider owned 127,597 shares in the company, valued at approximately $3,069,983.82. This represents a 2.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 20.92% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Ibotta by 17.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company's stock worth $43,749,000 after acquiring an additional 232,027 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Ibotta by 15.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company's stock worth $35,682,000 after acquiring an additional 168,054 shares during the period. Amova Asset Management Americas Inc. grew its stake in shares of Ibotta by 15.6% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company's stock worth $35,600,000 after acquiring an additional 172,314 shares during the period. Hsbc Holdings PLC grew its stake in shares of Ibotta by 1.5% during the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company's stock worth $30,581,000 after acquiring an additional 15,310 shares during the period. Finally, ARK Investment Management LLC grew its stake in shares of Ibotta by 39.3% during the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company's stock worth $25,271,000 after acquiring an additional 255,899 shares during the period.

Ibotta News Roundup

Here are the key news stories impacting Ibotta this week:

• Positive Sentiment: Ibotta’s Q1 results showed revenue above expectations, suggesting the company is still growing despite posting a loss. Investors are likely reacting favorably to the top-line beat and signs of business momentum. Ibotta NYSE: IBTA Beats Q1 CY2026 Sales Expectations
• Positive Sentiment: Needham raised its price target on IBTA to $45 from $33 and kept a buy rating, signaling confidence in additional upside after the earnings report. Needham raises price target on Ibotta
• Positive Sentiment: Wells Fargo also lifted its price target on Ibotta to $38 from $34, reinforcing the view that analysts see more value in the stock even with a neutral/equal-weight stance. Wells Fargo raises price target on Ibotta
• Neutral Sentiment: Multiple earnings recap, transcript, and presentation articles indicate investors are still parsing management’s Q1 commentary, including new publisher partnerships and product enhancements, for clues about the company’s longer-term growth outlook. Ibotta, Inc. 2026 Q1 - Results - Earnings Call Presentation
• Negative Sentiment: Despite the revenue beat, Ibotta reported a quarterly loss of $0.43 per share, wider than analyst estimates and a reminder that profitability remains under pressure. Ibotta (IBTA) Reports Q1 Loss, Tops Revenue Estimates

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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