Ibotta, Inc. (NYSE:IBTA) Stock Has Consensus Target Price of $36.50 According to Brokerages

Ibotta, Inc. (NYSE:IBTA) has received an average rating of “Reduce” from the eight analysts that are presently covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $36.50.

Several research firms have recently issued reports on IBTA. The Goldman Sachs Group increased their target price on shares of Ibotta from $28.00 to $32.00 and gave the stock a “sell” rating in a research note on Tuesday, August 4th. Wells Fargo & Company upped their price target on Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Ibotta in a research note on Tuesday, August 4th. UBS Group raised their price target on shares of Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Finally, Evercore set a $42.00 price objective on Ibotta in a report on Tuesday, August 4th.

Insider Activity at Ibotta

In other news, Director Thomas D. Lehrman sold 19,561 shares of the company’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $36.22, for a total transaction of $708,499.42. Following the completion of the sale, the director owned 25,312 shares of the company’s stock, valued at $916,800.64. This represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Luke Swanson sold 20,100 shares of the company’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $40.04, for a total transaction of $804,804.00. Following the sale, the chief technology officer directly owned 446,032 shares of the company’s stock, valued at $17,859,121.28. The trade was a 4.31% 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. In the last 90 days, insiders sold 141,832 shares of company stock worth $5,558,382. Company insiders own 20.92% of the company’s stock.

Institutional Trading of Ibotta

Large investors have recently bought and sold shares of the business. Hsbc Holdings PLC grew its holdings in shares of Ibotta by 1.5% in the first quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock valued at $30,581,000 after purchasing an additional 15,310 shares during the period. Renaissance Technologies LLC increased its position in Ibotta by 17.7% during the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock worth $7,172,000 after purchasing an additional 35,992 shares during the last quarter. Bank of America Corp DE raised its stake in Ibotta by 17.8% during the first quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock worth $7,168,000 after purchasing an additional 36,223 shares during the period. Sei Investments Co. acquired a new position in Ibotta in the 1st quarter valued at about $344,000. Finally, Engineers Gate Manager LP acquired a new position in Ibotta in the 2nd quarter valued at about $328,000.

Ibotta Stock Performance

IBTA stock opened at $48.61 on Monday. Ibotta has a one year low of $19.10 and a one year high of $50.53. The firm’s fifty day moving average is $42.24 and its 200 day moving average is $32.72. The firm has a market cap of $981.82 million, a PE ratio of -103.42 and a beta of -0.29.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company’s offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.