Ibotta, Inc. (NYSE:IBTA) Stock Has Average Price Target of $36.50 According to Brokerages

Shares of Ibotta, Inc. (NYSE:IBTA) have been given an average recommendation of “Reduce” by the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $36.50.

Several analysts have recently weighed in on IBTA shares. UBS Group boosted their target price on Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Ibotta in a research report on Tuesday, August 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Monday, September 21st. Zacks Research raised Ibotta from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. Finally, Wells Fargo & Company raised their target price on shares of Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 4th.

Insider Buying and Selling

In other Ibotta news, insider Marisa Daspit sold 2,956 shares of the company’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $37.46, for a total transaction of $110,731.76. Following the completion of the sale, the insider directly owned 117,251 shares of the company’s stock, valued at $4,392,222.46. This represents a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Thomas D. Lehrman sold 14,347 shares of the business’s stock in a transaction that occurred on 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 transaction, the director directly owned 16,490 shares in the company, valued at approximately $614,747.20. The trade was a 46.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 116,068 shares of company stock worth $4,271,876 in the last 90 days. Company insiders own 20.92% of the company’s stock.

Hedge Funds Weigh In On Ibotta

Several institutional investors have recently bought and sold shares of the company. Hsbc Holdings PLC raised its stake in shares of Ibotta by 1.5% during the 1st quarter. Hsbc Holdings PLC now owns 1,009,287 shares of the company’s stock worth $30,581,000 after buying an additional 15,310 shares in the last quarter. Renaissance Technologies LLC grew its holdings 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 acquiring an additional 35,992 shares during the period. Bank of America Corp DE raised its position in Ibotta by 17.8% in the first quarter. Bank of America Corp DE now owns 239,167 shares of the company’s stock worth $7,168,000 after acquiring an additional 36,223 shares in the last quarter. Sei Investments Co. acquired a new stake in Ibotta in the first quarter valued at $344,000. Finally, Aristides Capital LLC acquired a new stake in Ibotta in the fourth quarter valued at $220,000.

Ibotta Price Performance

NYSE IBTA opened at $41.35 on Thursday. The firm’s fifty day moving average price is $37.51 and its 200 day moving average price is $34.11. Ibotta has a 12 month low of $19.10 and a 12 month high of $43.43. The company has a market capitalization of $835.27 million, a price-to-earnings ratio of -87.98 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.