Ibotta, Inc. (NYSE:IBTA) Receives Consensus Rating of “Reduce” from Analysts

Shares of Ibotta, Inc. (NYSE:IBTA) have been given an average recommendation of “Reduce” by the ten ratings firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $34.1429.

A number of brokerages have issued reports on IBTA. Needham & Company LLC reduced their price objective on shares of Ibotta from $70.00 to $33.00 and set a “buy” rating on the stock in a research note on Thursday, August 14th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a research report on Saturday, September 13th. Wells Fargo & Company reissued an “equal weight” rating and issued a $30.00 price objective (down from $60.00) on shares of Ibotta in a research note on Thursday, August 14th. JMP Securities restated a “market perform” rating on shares of Ibotta in a research note on Thursday, August 14th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $38.00 price target (down previously from $65.00) on shares of Ibotta in a research note on Thursday, August 14th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IBTA. Rhumbline Advisers increased its position in Ibotta by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock worth $536,000 after purchasing an additional 380 shares in the last quarter. CWM LLC grew its stake in shares of Ibotta by 50.8% during the third quarter. CWM LLC now owns 1,422 shares of the company’s stock worth $40,000 after buying an additional 479 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ibotta by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after buying an additional 515 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Ibotta during the first quarter worth $25,000. Finally, Deutsche Bank AG lifted its stake in shares of Ibotta by 6.9% in the 1st quarter. Deutsche Bank AG now owns 11,030 shares of the company’s stock valued at $465,000 after acquiring an additional 713 shares during the last quarter.

Ibotta Price Performance

Shares of NYSE:IBTA opened at $28.30 on Monday. The company has a market capitalization of $714.89 million, a P/E ratio of 9.83 and a beta of -1.12. The business’s 50 day simple moving average is $29.40 and its 200 day simple moving average is $36.67. Ibotta has a 1 year low of $22.50 and a 1 year high of $79.80.

Ibotta (NYSE:IBTA) last released its earnings results on Thursday, May 30th. The company reported ($0.10) earnings per share (EPS) for the quarter. Ibotta had a return on equity of 24.26% and a net margin of 26.24%.The company had revenue of $56.52 million for the quarter.

Ibotta Company Profile

Ibotta’s mission is to Make Every Purchase Rewarding. Our technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). We are pioneers in success-based marketing: we only get paid when our client’s promotion results in a sale, not when a consumer merely views or clicks on the promotion.