Ibotta (NYSE:IBTA) Downgraded by Wall Street Zen to Sell

Wall Street Zen lowered shares of Ibotta (NYSE:IBTA) from a hold rating to a sell rating in a report released on Saturday.

A number of other brokerages have also issued reports on IBTA. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Monday, December 29th. Wells Fargo & Company upped their price target on shares of Ibotta from $30.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday. Bank of America lowered their price objective on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a research report on Thursday, November 13th. Evercore 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. Finally, The Goldman Sachs Group decreased their target price 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 research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $33.14.

Ibotta Stock Performance

IBTA opened at $24.90 on Friday. The business’s 50-day simple moving average is $22.01 and its 200-day simple moving average is $25.41. Ibotta has a one year low of $19.10 and a one year high of $62.74. The stock has a market capitalization of $583.66 million, a P/E ratio of 226.38 and a beta of -0.88.

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

Hedge Funds Weigh In On Ibotta

A number of large investors have recently bought and sold shares of the company. Rhumbline Advisers boosted its holdings in shares of Ibotta by 2.0% in the third quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock valued at $536,000 after acquiring an additional 380 shares in the last quarter. CWM LLC raised its holdings in Ibotta by 50.8% during the third quarter. CWM LLC now owns 1,422 shares of the company’s stock worth $40,000 after purchasing an additional 479 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Ibotta by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock valued at $396,000 after purchasing an additional 515 shares during the period. Quantbot Technologies LP boosted its holdings in Ibotta by 34.6% in the 3rd quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock valued at $67,000 after purchasing an additional 622 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Ibotta by 5.1% during 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 worth $404,000 after purchasing an additional 855 shares during the period.

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.