Key Points
- Ibotta CRO Christopher Riedy sold 12,259 shares for $735,540 at an average price of $60; he retained 351,128 shares after the sale.
- Ibotta reported quarterly EPS of $0.62, beating the $0.13 consensus, while revenue rose 17.4% year over year to $97.83 million.
- Analysts’ consensus rating was “Reduce,” with a $50 average price target; recent target changes ranged from $38 to $65.
Ibotta, Inc. (NYSE:IBTA - Get Free Report) CRO Christopher Riedy sold 12,259 shares of Ibotta stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $60.00, for a total value of $735,540.00. Following the transaction, the executive owned 351,128 shares in the company, valued at $21,067,680. This represents a 3.37% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Ibotta Price Performance
NYSE:IBTA opened at $59.61 on Tuesday. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $66.39. The business's fifty day moving average price is $44.70 and its 200 day moving average price is $33.77.
Ibotta (NYSE:IBTA - Get Free Report) last announced its quarterly earnings data on Monday, November 2nd. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.49. Ibotta had a negative return on equity of 5.51% and a negative net margin of 4.49%. The firm had revenue of $97.83 million during the quarter. During the same period in the prior year, the company posted $0.56 earnings per share. The firm's revenue was up 17.4% on a year-over-year basis. Analysts predict that Ibotta, Inc. will post 0.25 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on IBTA shares. Needham & Company LLC increased their price target on shares of Ibotta from $45.00 to $65.00 and gave the stock a "buy" rating in a research report on Tuesday, November 3rd. UBS Group raised their price target on shares of Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of Ibotta from $40.00 to $49.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 3rd. The Goldman Sachs Group upgraded shares of Ibotta from a "sell" rating to a "neutral" rating and upped their price objective for the company from $35.00 to $58.00 in a research note on Tuesday, November 3rd. Finally, Citigroup upped their price objective on shares of Ibotta from $34.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, November 4th. One analyst has rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $50.00.
Get Our Latest Report on Ibotta
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its stake in shares of Ibotta by 32.9% in the third quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company's stock worth $42,000 after buying an additional 268 shares during the last quarter. Essential Partners LLC boosted its holdings 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 buying an additional 816 shares during the period. Meeder Asset Management Inc. acquired a new position in Ibotta in the 1st quarter valued at $39,000. New York State Teachers Retirement System acquired a new position in Ibotta in the 1st quarter valued at $39,000. Finally, Squarepoint Ops LLC acquired a new position in Ibotta in the 2nd quarter valued at $290,000.
About Ibotta
(
Get Free Report)
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.
Further Reading
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