Ibotta (NYSE:IBTA) Trading 5.4% Higher – Still a Buy?

Ibotta, Inc. (NYSE:IBTA) shares shot up 5.4% during trading on Friday . The stock traded as high as $33.46 and last traded at $33.46. Approximately 3,228 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 257,218 shares. The stock had previously closed at $31.76.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IBTA shares. Zacks Research raised shares of Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Evercore set a $40.00 price target on Ibotta in a research report on Thursday, May 7th. Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Finally, Needham & Company LLC lifted their target price on Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $33.83.

Ibotta Stock Performance

The firm has a market capitalization of $620.14 million, a P/E ratio of -90.29 and a beta of -0.59. The business has a 50 day simple moving average of $33.07 and a two-hundred day simple moving average of $28.17.

Ibotta (NYSE:IBTA) last issued its quarterly earnings results 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 business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. On average, equities analysts anticipate that Ibotta, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Ibotta

In other news, CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $35.14, for a total transaction of $208,731.60. Following the sale, the chief technology officer owned 489,904 shares in the company, valued at approximately $17,215,226.56. This trade represents a 1.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of Ibotta stock in a transaction on Monday, July 6th. The stock was sold at an average price of $30.15, for a total transaction of $15,075,000.00. Following the sale, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 613,641 shares of company stock worth $18,702,987 over the last three months. 20.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Ibotta

Several hedge funds have recently added to or reduced their stakes in IBTA. Essential Partners LLC boosted its holdings in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after purchasing an additional 816 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Ibotta in the first quarter worth approximately $39,000. New York State Teachers Retirement System bought a new position in Ibotta during the first quarter valued at approximately $39,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Ibotta by 187.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock worth $41,000 after acquiring an additional 1,185 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 2,396 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.