Brokerages Set Ibotta, Inc. (NYSE:IBTA) PT at $32.57

Ibotta, Inc. (NYSE:IBTA) has been given an average rating of “Reduce” by the ten research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $32.5714.

A number of equities analysts recently weighed in on IBTA shares. Evercore ISI decreased 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. Bank of America dropped their price target on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a research note on Thursday, November 13th. The Goldman Sachs Group reduced their target price on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a report on Thursday, November 13th. Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday.

Ibotta Stock Performance

NYSE IBTA opened at $22.68 on Tuesday. The stock has a market cap of $531.62 million, a P/E ratio of 9.37 and a beta of -0.89. The stock has a 50 day simple moving average of $25.39 and a two-hundred day simple moving average of $29.78. Ibotta has a fifty-two week low of $20.60 and a fifty-two week high of $76.00.

Ibotta (NYSE:IBTA) last posted its quarterly earnings data on Wednesday, November 12th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.22. The business 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 business’s revenue was down 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.94 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. increased its stake in Ibotta by 53.6% in the 1st quarter. Invesco Ltd. now owns 7,962 shares of the company’s stock worth $336,000 after buying an additional 2,780 shares during the period. American Century Companies Inc. boosted its stake in Ibotta by 26.5% in the first quarter. American Century Companies Inc. now owns 54,326 shares of the company’s stock valued at $2,293,000 after acquiring an additional 11,385 shares in the last quarter. Walleye Capital LLC acquired a new stake in Ibotta in the first quarter valued at approximately $436,000. Southpoint Capital Advisors LP grew 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 during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 purchasing an additional 515 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.