Ibotta Approves $100 Million Increase to Share Buyback

Ibotta, a technology company, has approved a $100 million increase to its share buyback program. Ibotta allows CPG brands to deliver digital promotions to consumers through its Ibotta Performance Network, which includes its own mobile, web, and browser extension properties, as well as third-party publisher properties. The company's offers cover products in non-discretionary categories and also works with general merchandise manufacturers. Ibotta's technology platform uses AI to match and distribute offers to consumers.

Ibotta, Inc. (NYSE: IBTA), a leading performance marketing platform, has announced a significant enhancement to its share repurchase strategy. The company's Board of Directors approved an increase to its share repurchase program, authorizing the purchase of up to an additional $100 million of Class A common stock [1]. This move underscores Ibotta's commitment to returning value to its shareholders.

The expanded share repurchase program has no expiration date, allowing Ibotta the flexibility to acquire shares through open market purchases or privately negotiated transactions, contingent on market conditions and other relevant factors [2]. Open market repurchases will adhere to the framework of Rule 10b-18 under the Securities Exchange Act of 1934, while Rule 10b5-1 plans may be utilized to facilitate these acquisitions [3].

Ibotta's share repurchase program is designed to be flexible, with no obligation to purchase a specific amount of stock and the ability to modify or cease the program at any time. The timing and quantity of shares repurchased will depend on several elements, including stock price, general business climate, and alternative investment options [3].

Ibotta operates the largest digital promotions network in North America, connecting brands with over 200 million consumers through its Performance Network. The network has facilitated over $2.4 billion in earnings for American shoppers since its inception in 2012 [4]. The company's technology platform uses AI to match and distribute offers to consumers, covering non-discretionary categories and working with general merchandise manufacturers [5].

Following the announcement, shares of Ibotta traded down $3.20 during mid-day trading on Monday, hitting $46.18. The company had a trading volume of 289,624 shares, compared to its average volume of 428,070. The company has a market capitalization of $1.17 billion, a PE ratio of 31.20, and a beta of -0.84 [4].

Several hedge funds have recently modified their holdings of IBTA. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Ibotta during the first quarter worth about $25,000. Jones Financial Companies Lllp bought a new position in Ibotta during the first quarter worth about $161,000. New York State Common Retirement Fund grew its holdings in Ibotta by 58.1% during the first quarter. Federated Hermes Inc. grew its holdings in Ibotta by 883.9% during the first quarter. Invesco Ltd. grew its holdings in Ibotta by 53.6% during the first quarter [4].

Wall Street analysts have issued various ratings and price targets for Ibotta. Evercore ISI reissued an "outperform" rating on shares of Ibotta. UBS Group lifted their price target on Ibotta from $42.00 to $55.00 and gave the company a "neutral" rating. JMP Securities reissued a "market outperform" rating and issued a $58.00 price target on shares of Ibotta. The Goldman Sachs Group lifted their price target on Ibotta from $50.00 to $65.00 and gave the company a "buy" rating. Wells Fargo & Company lifted their price target on Ibotta [4].

References:
[1] https://www.stocktitan.net/news/IBTA/ibotta-announces-a-100-million-increase-to-its-share-repurchase-eungn0wg6u4p.html
[2] https://seekingalpha.com/news/4456707-ibotta-authorizes-additional-100-million-for-share-repurchase
[3] https://www.gurufocus.com/news/2917117/ibotta-announces-a-100-million-increase-to-its-share-repurchase-program-ibta-stock-news
[4] https://www.marketbeat.com/instant-alerts/ibotta-inc-nyseibta-major-shareholder-sells-24235000-in-stock-2025-06-09/