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

Ibotta, Inc. (NYSE:IBTA) has received a consensus recommendation of “Reduce” from the ten research firms that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.5714.

IBTA has been the topic of several research reports. The Goldman Sachs Group cut their price target on Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, November 13th. Bank of America dropped their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a report on Thursday, November 13th. Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Evercore ISI lowered their price target on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a research report on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Ibotta in a research note on Monday, December 22nd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its position in shares of Ibotta by 53.6% in the 1st quarter. Invesco Ltd. now owns 7,962 shares of the company’s stock worth $336,000 after acquiring an additional 2,780 shares in the last quarter. American Century Companies Inc. boosted its position in Ibotta by 26.5% during the first quarter. American Century Companies Inc. now owns 54,326 shares of the company’s stock valued at $2,293,000 after purchasing an additional 11,385 shares in the last quarter. Walleye Capital LLC purchased a new position in Ibotta in the first quarter valued at about $436,000. Southpoint Capital Advisors LP raised its holdings in Ibotta by 48.2% in the first quarter. Southpoint Capital Advisors LP now owns 1,536,500 shares of the company’s stock worth $64,840,000 after purchasing an additional 499,556 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after purchasing an additional 515 shares in the last quarter.

Ibotta Stock Performance

Ibotta stock opened at $22.43 on Tuesday. The company has a market capitalization of $525.76 million, a PE ratio of 9.27 and a beta of -0.88. The company has a 50 day moving average price of $26.01 and a 200-day moving average price of $30.02. Ibotta has a fifty-two week low of $20.60 and a fifty-two week high of $76.00.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, November 12th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.34 by $0.22. The company had revenue of $83.26 million for the quarter. Ibotta had a return on equity of 20.94% and a net margin of 22.92%.The company’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.94 earnings per share.

Ibotta Company Profile

Ibotta (NYSE: IBTA) is a Denver‐based mobile commerce platform that connects consumers, retailers and brands through a unified cash-back rewards experience. Users access the Ibotta mobile app or browser extension to unlock rebates on everyday purchases, redeemable on groceries, retail goods, travel bookings and digital services. The platform integrates with major supermarket chains, big‐box retailers and online merchants, enabling shoppers to earn automatic cash-back both in physical stores and across e-commerce channels.

Founded in 2012 by co‐founder and CEO Bryan Leach, Ibotta has evolved from a simple rebate app into a comprehensive performance marketing partner for consumer goods companies.