Ibotta (NYSE:IBTA) Raised to “Hold” at UBS Group

Ibotta (NYSE:IBTA) was upgraded by research analysts at UBS Group to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other equities research analysts have also commented on the stock. The Goldman Sachs Group upped their price target on shares of Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a report on Tuesday. 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 $42.00 price objective on shares of Ibotta in a research report on Tuesday. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a report on Wednesday, June 24th. One investment 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.com, Ibotta has a consensus rating of “Reduce” and an average price target of $36.50.

Ibotta Stock Performance

Shares of IBTA stock opened at $39.38 on Wednesday. The company has a market capitalization of $795.48 million, a P/E ratio of -83.79 and a beta of -0.44. Ibotta has a fifty-two week low of $19.10 and a fifty-two week high of $40.49. The stock has a 50 day moving average price of $31.57 and a two-hundred day moving average price of $29.25.

Ibotta (NYSE:IBTA) last issued its earnings results on Wednesday, May 6th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.45. Ibotta had a negative net margin of 3.21% and a negative return on equity of 4.74%. The firm had revenue of $82.48 million for the quarter. During the same quarter in the prior year, the business posted $0.02 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Ibotta will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Ibotta

In other Ibotta news, Director Thomas D. Lehrman sold 30,119 shares of the company’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $30.78, for a total value of $927,062.82. Following the completion of the transaction, the director directly owned 40,744 shares in the company, valued at approximately $1,254,100.32. This represents a 42.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Luke Roy Swanson sold 5,940 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $24.47, for a total transaction of $145,351.80. Following the completion of the sale, the chief technology officer directly owned 483,964 shares of the company’s stock, valued at approximately $11,842,599.08. This represents a 1.21% 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. In the last ninety days, insiders have sold 619,581 shares of company stock valued at $18,848,339. 20.92% of the stock is currently owned by company insiders.

Institutional Trading of Ibotta

Several large investors have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Ibotta by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after acquiring an additional 515 shares during the period. Jones Financial Companies Lllp purchased a new position in shares of Ibotta in the 1st quarter valued at approximately $161,000. Goldman Sachs Group Inc. boosted its position in shares of Ibotta by 16.6% during the first quarter. Goldman Sachs Group Inc. now owns 122,514 shares of the company’s stock valued at $5,170,000 after purchasing an additional 17,421 shares in the last quarter. Legal & General Group Plc grew its stake in Ibotta by 43.5% in the second quarter. Legal & General Group Plc now owns 12,349 shares of the company’s stock worth $452,000 after purchasing an additional 3,746 shares during the period. Finally, Norges Bank purchased a new stake in Ibotta in the second quarter worth $781,000.

About Ibotta

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.