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

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

Wall Street Analyst Weigh In

IBTA has been the subject of several recent research reports. Wells Fargo & Company boosted their price target on shares of Ibotta from $34.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. The Goldman Sachs Group dropped their target price on Ibotta from $32.00 to $28.00 and set a “sell” rating for the company in a report on Wednesday. Finally, Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a research note on Monday, June 8th. One equities research 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. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $33.83.

Ibotta Stock Performance

The business has a 50-day simple moving average of $33.07 and a 200 day simple moving average of $28.17. The firm has a market cap of $620.14 million, a P/E ratio of -90.29 and a beta of -0.59.

Ibotta (NYSE:IBTA) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.45. Ibotta had a negative return on equity of 2.39% and a negative net margin of 2.15%.The firm had revenue of $82.48 million for the quarter. During the same quarter in the prior year, the business posted $0.02 earnings per share. Ibotta’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, research analysts expect that Ibotta, Inc. will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Jermoluk Founders Fund I. Clark sold 500,000 shares of Ibotta stock in a transaction dated 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 sale, the insider owned 3,341,308 shares of the company’s stock, valued at approximately $100,740,436.20. The trade was a 13.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Thomas D. Lehrman sold 30,119 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $30.78, for a total transaction of $927,062.82. Following the transaction, the director owned 40,744 shares in the company, valued at $1,254,100.32. This represents a 42.50% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 613,641 shares of company stock worth $18,702,987. 20.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Ibotta

Large investors have recently bought and sold shares of the company. Essential Partners LLC grew its holdings in shares of Ibotta by 40,800.0% during the 1st 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. Bank of America Corp DE lifted its stake in shares of Ibotta by 17.8% in the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock valued at $7,168,000 after purchasing an additional 36,223 shares during the period. Renaissance Technologies LLC boosted its position in shares of Ibotta by 17.7% during the first quarter. Renaissance Technologies LLC now owns 239,300 shares of the company’s stock valued at $7,172,000 after purchasing an additional 35,992 shares in the last quarter. Sei Investments Co. purchased a new stake in Ibotta in the first quarter worth $344,000. Finally, Meeder Asset Management Inc. purchased a new stake in Ibotta in the first quarter worth $39,000.

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.