Ibotta, Inc. (IBTA) – What Are Researchers Thinking About This Stock?

Shares of Ibotta, Inc. (NYSE:IBTA) have received an average recommendation of “Reduce” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $36.50.

IBTA has been the topic of several analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Monday, September 21st. Wells Fargo & Company raised their price objective on shares of Ibotta from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 4th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of Ibotta in a research report on Tuesday, August 4th. The Goldman Sachs Group boosted their target price on shares of Ibotta from $28.00 to $32.00 and gave the company a “sell” rating in a research note on Tuesday, August 4th. Finally, UBS Group boosted their target price on shares of Ibotta from $30.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th.

Insider Activity at Ibotta

In related news, CTO Luke Swanson sold 3,695 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $49.97, for a total transaction of $184,639.15. Following the transaction, the chief technology officer directly owned 431,233 shares of the company’s stock, valued at approximately $21,548,713.01. The trade was a 0.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marisa Daspit sold 499 shares of the stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $50.15, for a total transaction of $25,024.85. Following the completion of the sale, the insider owned 116,505 shares of the company’s stock, valued at approximately $5,842,725.75. The trade was a 0.43% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 135,892 shares of company stock valued at $5,413,031. 20.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Ibotta

Several hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue grew its stake in Ibotta by 32.9% in the third quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company’s stock valued at $42,000 after purchasing an additional 268 shares in the last quarter. Essential Partners LLC raised its stake 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 purchasing an additional 816 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Ibotta during the 1st quarter valued at about $39,000. New York State Teachers Retirement System acquired a new stake in shares of Ibotta during the 1st quarter valued at about $39,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Ibotta in the 2nd quarter valued at approximately $290,000.

Ibotta Trading Down 0.0%

NYSE IBTA opened at $48.61 on Monday. The stock’s 50-day moving average price is $42.24 and its two-hundred day moving average price is $32.72. The company has a market cap of $981.92 million, a PE ratio of -103.42 and a beta of -0.46. Ibotta has a 1 year low of $19.10 and a 1 year high of $50.53.

About Ibotta

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company’s offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.