Key Points
- Insider sale: Ibotta insider Marisa Daspit sold 2,956 shares on March 5 at an average price of $24.06 for a total of $71,121, leaving her with 127,597 shares (a 2.26% drop in her ownership, valued at about $3.07M).
- Weak quarterly results: Ibotta reported ($0.04) EPS vs. a ($0.01) consensus and revenue of $88.53M, a 10% year-over-year decline, with the stock trading well below its one-year high and carrying a high P/E of 213.47.
- Analyst sentiment is cautious: One analyst rates Buy, five Hold and three Sell, and MarketBeat shows a consensus rating of "Reduce" with a $33.14 target price.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) insider Marisa Daspit sold 2,956 shares of the firm's stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $24.06, for a total transaction of $71,121.36. Following the completion of the transaction, the insider directly 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 link.
Ibotta Stock Performance
Shares of IBTA opened at $23.48 on Tuesday. The stock has a 50 day moving average price of $22.25 and a 200 day moving average price of $25.27. Ibotta, Inc. has a one year low of $19.10 and a one year high of $62.74. The stock has a market capitalization of $498.01 million, a price-to-earnings ratio of 213.47 and a beta of -1.22.
Ibotta (NYSE:IBTA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 25th. The company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). Ibotta had a return on equity of 1.04% and a net margin of 1.04%.The business had revenue of $88.53 million for the quarter. During the same quarter in the previous year, the firm earned $0.67 EPS. The company's revenue was down 10.0% compared to the same quarter last year.
Analyst Ratings Changes
Several research firms have recently commented on IBTA. Bank of America reduced their price target on shares of Ibotta from $24.00 to $22.00 and set an "underperform" rating on the stock in a research report on Thursday, November 13th. Wells Fargo & Company raised their price objective on Ibotta from $30.00 to $34.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 26th. Evercore lowered their target price on shares of Ibotta from $38.00 to $32.00 and set an "in-line" rating for the company in a research note on Thursday, November 13th. The Goldman Sachs Group decreased their price objective on shares of Ibotta from $26.00 to $23.00 and set a "sell" rating on the stock in a report on Thursday, November 13th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Ibotta in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, Ibotta has a consensus rating of "Reduce" and a consensus target price of $33.14.
Check Out Our Latest Stock Report on Ibotta
Institutional Trading of Ibotta
A number of institutional investors and hedge funds have recently bought and sold shares of IBTA. Vanguard Group Inc. lifted 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. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Ibotta by 15.1% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company's stock valued at $35,682,000 after purchasing an additional 168,054 shares in the last quarter. Amova Asset Management Americas Inc. grew its holdings in shares of Ibotta by 15.6% in the third quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company's stock valued at $35,600,000 after purchasing an additional 172,314 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in Ibotta by 5.1% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 1,107,338 shares of the company's stock worth $40,529,000 after buying an additional 53,820 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Ibotta by 29.4% during the 4th quarter. Hsbc Holdings PLC now owns 993,977 shares of the company's stock worth $22,210,000 after buying an additional 226,021 shares in the last quarter.
About Ibotta
(
Get Free Report)
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.
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