Ibotta (NYSE:IBTA) Stock Rating Upgraded by Zacks Research

by · The Markets Daily

Ibotta (NYSE:IBTA – Get Free Report) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts have also weighed in on the company. Evercore set a $40.00 price objective on Ibotta in a research note on Thursday, May 7th. Wall Street Zen upgraded Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Wells Fargo & Company increased their target price on Ibotta from $34.00 to $38.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. Finally, Needham & Company LLC lifted their target price on shares of Ibotta from $33.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $33.00.

Check Out Our Latest Stock Analysis on IBTA

Ibotta Stock Up 3.7%

NYSE:IBTA opened at $33.27 on Monday. The stock’s 50-day simple moving average is $33.51 and its 200 day simple moving average is $26.67. The firm has a market capitalization of $672.05 million, a PE ratio of -97.85 and a beta of -0.59. Ibotta has a twelve month low of $19.10 and a twelve month high of $49.99.

Ibotta (NYSE:IBTA – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.45. The business had revenue of $82.48 million for the quarter. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. On average, analysts anticipate that Ibotta will post 0.24 EPS for the current fiscal year.

Ibotta declared that its board has approved a share buyback program on Wednesday, March 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 21.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Thomas D. Lehrman sold 30,119 shares of Ibotta stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $30.78, for a total value of $927,062.82. Following the transaction, the director directly owned 40,744 shares of the company’s stock, valued at $1,254,100.32. The trade was a 42.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Luke Roy Swanson sold 5,940 shares of Ibotta stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $32.98, for a total value of $195,901.20. Following the completion of the transaction, the chief technology officer directly owned 495,844 shares in the company, valued at approximately $16,352,935.12. This represents a 1.18% 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. Over the last ninety days, insiders sold 107,701 shares of company stock worth $3,419,255. 20.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Ibotta

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Essential Partners LLC lifted its stake in shares of Ibotta by 40,800.0% in the first quarter. Essential Partners LLC now owns 818 shares of the company’s stock worth $25,000 after acquiring an additional 816 shares during the period. New York State Teachers Retirement System acquired a new position in shares of Ibotta in the first quarter worth approximately $39,000. Meeder Asset Management Inc. acquired a new position in shares of Ibotta in the first quarter worth approximately $39,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Ibotta by 187.5% in 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 during the period. Finally, Farther Finance Advisors LLC lifted its stake in shares of Ibotta by 47,920.0% in 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 during the period.

Ibotta Company Profile

(Get Free Report)

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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