This transaction was executed under a Rule 10b5-1 trading plan, which Donahue established on June 6, 2024. In addition to the sale, Donahue also exercised options to acquire 776 shares of Class A Common Stock, with the exercise prices ranging from $8.30 to $10.40 per share. Following these transactions, Donahue holds a total of 214,966 shares in Ibotta, Inc. With a current ratio of 2.72 and trading below its Fair Value, InvestingPro subscribers can access 12 additional key insights about IBTA’s valuation and financial health through the comprehensive Pro Research Report. With a current ratio of 2.72 and trading below its Fair Value, InvestingPro subscribers can access 12 additional key insights about IBTA’s valuation and financial health through the comprehensive Pro Research Report. This transaction was executed under a Rule 10b5-1 trading plan, which Donahue established on June 6, 2024.
In addition to the sale, Donahue also exercised options to acquire 776 shares of Class A Common Stock, with the exercise prices ranging from $8.30 to $10.40 per share. Following these transactions, Donahue holds a total of 214,966 shares in Ibotta, Inc.
In other recent news, Ibotta Inc. made a significant financial move by securing a new $100 million credit agreement with Bank of America, terminating its previous credit arrangement with Silicon Valley Bank. The company has not borrowed any funds under this credit facility at the time of closing and intends to use the proceeds from any future borrowings for general business operations. Additionally, Ibotta reported robust third-quarter results for 2024, exceeding expectations due to strong performance in third-party partner promotions, despite a decrease in direct-to-consumer revenue.
However, the rapid use of its 2024 advertising budget has led to projections of lower fourth-quarter revenue and EBITDA. Analysts have adjusted their outlooks on Ibotta accordingly. Citi reduced the stock’s price target to $82 from $95, while maintaining a Buy rating. Needham also adjusted its price target for Ibotta to $80, maintaining a Buy rating. UBS downgraded its rating from Buy to Neutral and lowered its price target to $65, citing concerns about advertiser budget growth.
In contrast, Goldman Sachs upgraded Ibotta to Buy, citing a compelling valuation and risk/reward balance. The company also initiated a $100 million share repurchase program, signaling potential future growth. Despite near-term challenges, analysts remain optimistic about Ibotta’s growth trajectory, highlighting a significant year-to-date increase in consumer packaged goods billings, which are up by 65%. These are some of the recent developments in Ibotta’s operations.
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