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

Ibotta, Inc. (NYSE:IBTA) has received an average recommendation of “Reduce” from the nine analysts that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $32.5714.

Several research firms recently commented on IBTA. Evercore cut their price objective on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Bank of America reduced their price target on Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research report on Thursday, November 13th. Finally, The Goldman Sachs Group dropped their price objective on Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, November 13th.

Institutional Trading of Ibotta

A number of hedge funds and other institutional investors have recently bought and sold shares of IBTA. JPMorgan Chase & Co. boosted its holdings in Ibotta by 481.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 654,876 shares of the company’s stock valued at $23,968,000 after purchasing an additional 542,313 shares during the period. Deutsche Bank AG boosted its stake in Ibotta by 3,449.8% during the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock valued at $8,408,000 after buying an additional 359,470 shares during the period. Citigroup Inc. raised its holdings in shares of Ibotta by 90.2% in the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after acquiring an additional 304,183 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of Ibotta by 39.3% during the 3rd quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock valued at $25,271,000 after acquiring an additional 255,899 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Ibotta by 17.3% in the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after purchasing an additional 232,027 shares during the last quarter.

Ibotta Stock Performance

Shares of Ibotta stock opened at $20.22 on Wednesday. The stock has a market capitalization of $473.96 million, a P/E ratio of 8.36 and a beta of -0.88. Ibotta has a 52-week low of $19.10 and a 52-week high of $74.75. The stock’s 50-day simple moving average is $21.93 and its 200 day simple moving average is $26.01.

About Ibotta

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.