Ibotta (NYSE:IBTA) Given New $38.00 Price Target at Wells Fargo & Company

Ibotta (NYSE:IBTA) had its target price raised by Wells Fargo & Company from $34.00 to $38.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms also recently issued reports on IBTA. Evercore set a $40.00 price objective on shares of Ibotta in a report on Thursday. Needham & Company LLC upped their target price on shares of Ibotta from $33.00 to $45.00 and gave the company a “buy” rating in a report on Thursday. Wall Street Zen cut shares of Ibotta from a “hold” rating to a “sell” rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $36.57.

Ibotta Trading Down 2.6%

NYSE:IBTA traded down $0.96 during trading hours on Thursday, reaching $35.82. The company had a trading volume of 75,074 shares, compared to its average volume of 286,714. Ibotta has a 52 week low of $19.10 and a 52 week high of $62.74. The firm has a market cap of $743.98 million, a price-to-earnings ratio of -105.35 and a beta of -0.61. The firm’s 50 day moving average price is $30.00 and its 200-day moving average price is $26.25.

Ibotta (NYSE:IBTA) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.45. The company had revenue of $82.48 million during the quarter. Ibotta had a negative return on equity of 2.26% and a negative net margin of 2.15%.The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 EPS. On average, analysts forecast that Ibotta will post -0.42 earnings per share for the current fiscal year.

Ibotta announced that its Board of Directors has approved a share repurchase program on Wednesday, March 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 21.2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Ibotta news, insider Marisa Daspit sold 2,956 shares of the company’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $24.06, for a total value of $71,121.36. Following the completion of the sale, the insider owned 127,597 shares in the company, valued at $3,069,983.82. This represents a 2.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 20.92% of the stock is currently owned by insiders.

Institutional Trading of Ibotta

A number of hedge funds and other institutional investors have recently bought and sold shares of IBTA. Deutsche Bank AG increased its position in Ibotta by 3,449.8% in the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock worth $8,408,000 after buying an additional 359,470 shares in the last quarter. Citigroup Inc. increased its position in Ibotta by 90.2% in the third quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock worth $17,861,000 after buying an additional 304,183 shares in the last quarter. ARK Investment Management LLC increased its position in Ibotta by 39.3% in the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock worth $25,271,000 after buying an additional 255,899 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after purchasing an additional 232,027 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Ibotta during the second quarter worth about $8,397,000.

Ibotta News Summary

Here are the key news stories impacting Ibotta this week:

• Positive Sentiment: Ibotta reported Q1 revenue that topped expectations and the company highlighted product enhancements and new publisher partnerships as part of its strategy. This supports revenue durability and execution narratives. Article Title
• Positive Sentiment: Giant Eagle named Ibotta its exclusive digital promotions partner across 200+ supermarkets — a meaningful commercial win that could drive incremental revenue and scale in grocery promotions. Article Title
• Positive Sentiment: Analyst optimism: Needham raised its price target to $45 (buy) and Wells Fargo raised its target to $38 (equal weight), signaling rising sell-side confidence in upside from current levels. Article Title
• Neutral Sentiment: Detailed materials posted: the Q1 earnings transcript, slide deck and call transcript/S.A. coverage are available for investors to assess management’s commentary and metric definitions (useful for modeling but not immediate catalysts). Article Title
• Negative Sentiment: Guidance and profitability questions: Ibotta provided a Q2 revenue guide of roughly $82.0M–$86.0M versus consensus near $83.1M, leaving upside limited and creating execution risk if growth stalls. Article Title
• Negative Sentiment: Accounting/earnings mix: some outlets (Zacks) highlighted a GAAP loss larger than estimates, creating confusion between headline EPS beats and underlying profitability—this mixed earnings signal can pressure sentiment until metrics are reconciled. Article Title

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.