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

Shares of Ibotta, Inc. (NYSE:IBTA) have been given a consensus recommendation of “Reduce” by the ten research firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $32.5714.

A number of equities research analysts have issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Monday, December 29th. Bank of America cut their target price on Ibotta from $24.00 to $22.00 and set an “underperform” rating on the stock in a research report on Thursday, November 13th. Evercore ISI decreased their price target on Ibotta from $38.00 to $32.00 and set an “in-line” rating on the stock in a report on Thursday, November 13th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, The Goldman Sachs Group cut their price objective on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a research report on Thursday, November 13th.

Ibotta Stock Down 1.2%

IBTA stock opened at $22.62 on Tuesday. Ibotta has a 52 week low of $20.60 and a 52 week high of $76.00. The firm has a market capitalization of $530.21 million, a P/E ratio of 9.35 and a beta of -0.89. The company has a fifty day simple moving average of $24.92 and a two-hundred day simple moving average of $29.42.

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

Institutional Trading of Ibotta

Several institutional investors have recently added to or reduced their stakes in IBTA. CWM LLC grew its stake in shares of Ibotta by 225.2% during the second quarter. CWM LLC now owns 943 shares of the company’s stock valued at $35,000 after buying an additional 653 shares during the last quarter. Private Wealth Asset Management LLC bought a new position in Ibotta in the 2nd quarter valued at $37,000. Quantbot Technologies LP purchased a new stake in Ibotta in the second quarter worth $66,000. Tower Research Capital LLC TRC lifted its position in shares of Ibotta by 144.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock worth $141,000 after purchasing an additional 2,274 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in shares of Ibotta during the first quarter worth $161,000.

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.