Ibotta, Inc. (NYSE:IBTA) Given Consensus Rating of “Reduce” by Analysts

Ibotta, Inc. (NYSE:IBTA) has been assigned a consensus rating of “Reduce” from the nine ratings firms that are currently covering the company, MarketBeat reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $32.5714.

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

Institutional Investors Weigh In On Ibotta

Hedge funds have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of Ibotta by 21.6% in the 4th quarter. Invesco Ltd. now owns 8,892 shares of the company’s stock worth $202,000 after purchasing an additional 1,581 shares in the last quarter. XTX Topco Ltd purchased a new stake in Ibotta in the fourth quarter worth about $1,917,000. VARCOV Co. purchased a new stake in Ibotta in the fourth quarter worth about $439,000. Millennium Management LLC purchased a new position in shares of Ibotta during the 4th quarter valued at about $1,976,000. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Ibotta during the 4th quarter valued at about $1,109,000.

Ibotta Trading Down 1.1%

Shares of IBTA stock opened at $20.60 on Wednesday. Ibotta has a 12-month low of $19.10 and a 12-month high of $68.40. The stock has a market capitalization of $482.97 million, a P/E ratio of 8.51 and a beta of -0.88. The firm’s 50 day moving average is $21.88 and its 200 day moving average is $25.54.

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.