Ibotta (NYSE:IBTA) Rating Lowered to Sell at Wall Street Zen

Ibotta (NYSE:IBTA) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

A number of other research firms have also commented on IBTA. Wells Fargo & Company lifted their target price on shares of Ibotta from $30.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Evercore lowered their target price on Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, November 13th. Bank of America decreased their price target on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. Finally, The Goldman Sachs Group reduced their price objective on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $33.14.

Ibotta Stock Performance

Shares of NYSE:IBTA opened at $24.90 on Friday. The company has a market capitalization of $583.78 million, a PE ratio of 226.38 and a beta of -0.88. Ibotta has a 52 week low of $19.10 and a 52 week high of $62.74. The company’s fifty day moving average is $22.01 and its 200-day moving average is $25.47.

Ibotta (NYSE:IBTA) last posted its quarterly earnings data on Wednesday, February 25th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.03). Ibotta had a return on equity of 0.99% and a net margin of 1.04%.The firm had revenue of $88.53 million for the quarter. During the same period last year, the firm posted $0.67 earnings per share. The company’s quarterly revenue was down 10.0% on a year-over-year basis.

Institutional Trading of Ibotta

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rhumbline Advisers grew its position in shares of 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 boosted its stake in shares of Ibotta by 50.8% in the third quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after buying an additional 479 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in 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 in the last quarter. Quantbot Technologies LP increased its stake in Ibotta by 34.6% during the 3rd quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock worth $67,000 after acquiring an additional 622 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Ibotta by 5.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,769 shares of the company’s stock valued at $404,000 after acquiring an additional 855 shares in the last quarter.

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.