Bank of America Issues Pessimistic Forecast for Ibotta (NYSE:IBTA) Stock Price

Ibotta (NYSE:IBTA) had its price objective cut by Bank of America from $24.00 to $22.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “underperform” rating on the stock. Bank of America‘s target price would suggest a potential downside of 17.08% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Citizens Jmp lowered shares of Ibotta from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 14th. Evercore ISI reissued an “in-line” rating and issued a $38.00 target price (down from $65.00) on shares of Ibotta in a report on Thursday, August 14th. The Goldman Sachs Group downgraded Ibotta from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $30.00 to $26.00 in a research note on Tuesday, October 14th. UBS Group reduced their price objective on Ibotta from $55.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. Finally, Citigroup lowered shares of Ibotta from a “buy” rating to a “market perform” rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Ibotta presently has a consensus rating of “Reduce” and an average price target of $32.57.

Ibotta Stock Performance

Shares of NYSE IBTA opened at $26.53 on Thursday. The stock’s 50-day simple moving average is $29.59 and its 200-day simple moving average is $36.14. The firm has a market capitalization of $670.15 million, a PE ratio of 10.96 and a beta of -1.12. Ibotta has a fifty-two week low of $22.50 and a fifty-two week high of $76.99.

Ibotta (NYSE:IBTA) last announced its quarterly earnings results on Wednesday, November 12th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.34 by $0.22. Ibotta had a net margin of 22.92% and a return on equity of 19.98%. The company had revenue of $83.26 million for the quarter. During the same quarter in the prior year, the company earned $0.94 earnings per share. The business’s revenue for the quarter was down 15.5% on a year-over-year basis. Ibotta has set its Q4 2025 guidance at EPS.

Institutional Trading of Ibotta

Several hedge funds have recently made changes to their positions in IBTA. JPMorgan Chase & Co. boosted its holdings in shares of Ibotta by 481.8% in the second quarter. JPMorgan Chase & Co. now owns 654,876 shares of the company’s stock valued at $23,968,000 after acquiring an additional 542,313 shares in the last quarter. ARK Investment Management LLC lifted its position in Ibotta by 299.8% in the first quarter. ARK Investment Management LLC now owns 704,308 shares of the company’s stock valued at $29,722,000 after purchasing an additional 528,147 shares during the period. Southpoint Capital Advisors LP boosted its holdings in Ibotta by 48.2% in the 1st quarter. Southpoint Capital Advisors LP now owns 1,536,500 shares of the company’s stock valued at $64,840,000 after purchasing an additional 499,556 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in Ibotta by 68.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,053,518 shares of the company’s stock worth $44,458,000 after purchasing an additional 429,516 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Ibotta by 2,500.8% during the 1st quarter. Citigroup Inc. now owns 334,460 shares of the company’s stock worth $14,114,000 after buying an additional 321,600 shares in the last 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.