DENVER—Marisa Daspit, Chief People Officer of Ibotta, Inc. (NASDAQ:IBTA), reported a sale of 4,763 shares of the company's Class A Common Stock, according to a recent SEC filing. The shares were sold at an average price of $71.93 each, totaling approximately $342,602. The transaction comes as Ibotta, currently valued at $2.23 billion, maintains impressive gross profit margins of 87% and receives a "GREAT" financial health rating according to InvestingPro analysis.
Following the transaction, Daspit holds 22,685 shares of Ibotta, some of which are restricted stock units subject to vesting conditions. The sale was conducted under a pre-established Rule 10b5-1 trading plan, initiated on August 27, 2024. With analyst price targets ranging from $65 to $125, investors seeking deeper insights into Ibotta's valuation and growth prospects can access comprehensive analysis through InvestingPro's detailed research reports, which cover over 1,400 US stocks.
In other recent news, Ibotta Inc. has seen significant developments following its latest earnings report. Ibotta's Q3 results exceeded expectations due to robust third-party partner promotions, despite a dip in direct-to-consumer revenue. However, the rapid consumption of its 2024 advertising budget led to lower Q4 revenue and EBITDA projections. In response, Citi lowered its price target for Ibotta to $82 but maintained a Buy rating.
Needham also adjusted its outlook, reducing its price target to $80, citing budget constraints and a cautious stance on demand from the recent CART launch. UBS downgraded Ibotta to Neutral and lowered the target to $65 due to concerns about advertiser budget growth. Conversely, Goldman Sachs upgraded Ibotta to Buy, citing a compelling valuation and risk/reward balance.
Ibotta also initiated a $100 million share repurchase program, signaling potential future growth. These recent developments highlight the dynamic nature of Ibotta's operations in the current market landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.