Ibotta, Inc. (NYSE:IBTA) Receives Consensus Rating of “Reduce” from Analysts

Ibotta, Inc. (NYSE:IBTA) has been given a consensus rating of “Reduce” by the ten research firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $33.8333.

Several equities research analysts have recently issued reports on IBTA shares. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Evercore set a $40.00 target price on Ibotta in a research note on Thursday, May 7th. The Goldman Sachs Group reduced their target price on Ibotta from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Wednesday, July 8th. Needham & Company LLC raised their price target on Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, May 9th.

Ibotta Price Performance

NYSE:IBTA opened at $31.63 on Friday. The firm has a market cap of $638.93 million, a PE ratio of -93.03 and a beta of -0.59. The firm has a 50 day simple moving average of $32.47 and a 200-day simple moving average of $28.51. Ibotta has a 1-year low of $19.10 and a 1-year high of $41.14.

Ibotta (NYSE:IBTA) last released its earnings results on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, topping 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 2.15% and a negative return on equity of 2.39%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 earnings per share. As a group, sell-side analysts expect that Ibotta will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Ibotta

In related news, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $30.15, for a total transaction of $15,075,000.00. Following the completion of the transaction, the insider owned 3,341,308 shares of the company’s stock, valued at approximately $100,740,436.20. This represents a 13.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas D. Lehrman sold 19,788 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was 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. This represents a 37.50% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 613,641 shares of company stock worth $18,702,987. 20.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in Ibotta by 29.4% during the 4th 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 in the last quarter. FourThought Financial Partners LLC acquired a new position in Ibotta during the fourth quarter valued at approximately $526,000. Farther Finance Advisors LLC grew its stake in Ibotta by 47,920.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after buying an additional 2,396 shares during the period. Bank of America Corp DE increased its position in shares of Ibotta by 17.8% in the first quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock worth $7,168,000 after acquiring an additional 36,223 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Ibotta by 17.7% in the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock worth $7,172,000 after acquiring an additional 35,992 shares in the last quarter.

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.