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

Ibotta, Inc. (NYSE:IBTA) has been assigned a consensus recommendation of “Reduce” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $32.5714.

IBTA has been the topic of a number of research reports. The Goldman Sachs Group dropped their target price on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a report on Thursday, November 13th. Evercore ISI dropped their price objective on shares of Ibotta from $38.00 to $32.00 and set an “in-line” rating on the stock in a research note on Thursday, November 13th. Bank of America cut 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. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th.

Ibotta Stock Down 0.7%

NYSE:IBTA opened at $23.85 on Friday. The company has a market cap of $559.04 million, a PE ratio of 9.86 and a beta of -0.89. The business’s 50 day moving average is $22.79 and its two-hundred day moving average is $28.14. Ibotta has a 52 week low of $20.60 and a 52 week high of $76.00.

Ibotta (NYSE:IBTA) last posted its quarterly earnings results on Wednesday, November 12th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.22. Ibotta had a return on equity of 20.94% and a net margin of 22.92%.The business had revenue of $83.26 million for the quarter. During the same period in the prior year, the company posted $0.94 earnings per share. The business’s revenue was down 15.5% on a year-over-year basis.

Institutional Investors Weigh In On Ibotta

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in shares of Ibotta by 481.8% during the second quarter. JPMorgan Chase & Co. now owns 654,876 shares of the company’s stock worth $23,968,000 after acquiring an additional 542,313 shares during the last quarter. Citigroup Inc. boosted its stake in Ibotta by 90.2% during the 3rd quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after purchasing an additional 304,183 shares during the period. ARK Investment Management LLC boosted its stake in 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 purchasing an additional 255,899 shares during the period. Vanguard Group Inc. grew its position in Ibotta by 17.3% in the 3rd 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. Finally, Marshall Wace LLP acquired a new stake in shares of Ibotta in the second quarter valued at approximately $8,397,000.

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.