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

Shares of Ibotta, Inc. (NYSE:IBTA) have earned a consensus recommendation of “Reduce” from the eight ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $36.50.

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a report on Monday, September 21st. The Goldman Sachs Group raised 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. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of Ibotta in a report on Tuesday, August 4th. Zacks Research upgraded shares of Ibotta from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Finally, UBS Group boosted their price objective on Ibotta from $30.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th.

Insider Activity at Ibotta

In other news, Director Thomas Lehrman sold 14,347 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $37.28, for a total value of $534,856.16. Following the completion of the sale, the director owned 16,490 shares of the company’s stock, valued at approximately $614,747.20. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Luke Swanson sold 20,100 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $40.04, for a total transaction of $804,804.00. Following the completion of the transaction, the chief technology officer owned 446,032 shares in the company, valued at $17,859,121.28. This trade represents a 4.31% decrease in their ownership of the stock. 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. Insiders sold 610,128 shares of company stock worth $19,110,523 in the last ninety days. 20.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IBTA. Hsbc Holdings PLC increased its position in shares of 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 period. Bank of America Corp DE lifted its position 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. Renaissance Technologies LLC grew its stake 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 buying an additional 35,992 shares in the last quarter. Sei Investments Co. acquired a new stake in Ibotta during the first quarter worth about $344,000. Finally, Aristides Capital LLC bought a new position in Ibotta in the 4th quarter valued at about $220,000.

Ibotta Stock Up 4.3%

IBTA opened at $41.62 on Thursday. Ibotta has a 12-month low of $19.10 and a 12-month high of $43.43. The business has a 50 day moving average of $37.23 and a 200-day moving average of $33.94. The stock has a market cap of $840.72 million, a price-to-earnings ratio of -88.55 and a beta of -0.29.

Ibotta Company Profile

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Its services help consumers earn cash back and other incentives by engaging with offers from consumer packaged goods brands and retailers.

The company’s platform is available through the Ibotta mobile application, website, and integrated retail and digital-commerce experiences. Users can browse eligible offers, make qualifying purchases, and receive rewards after submitting proof of purchase or linking eligible loyalty accounts.