Ibotta, Inc. (NYSE:IBTA) Receives $32.57 Average Price Target from Analysts

Shares of Ibotta, Inc. (NYSE:IBTA) have been given an average recommendation of “Reduce” by the nine ratings firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $32.5714.

A number of research firms recently weighed in on IBTA. Bank of America decreased their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research report on Thursday, November 13th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Evercore lowered 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. Finally, The Goldman Sachs Group reduced their price target on Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a research report on Thursday, November 13th.

Institutional Trading of Ibotta

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBTA. JPMorgan Chase & Co. grew its position in shares of Ibotta by 481.8% in the 2nd 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 during the period. Deutsche Bank AG grew its holdings in Ibotta by 3,449.8% during the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock worth $8,408,000 after purchasing an additional 359,470 shares during the period. Citigroup Inc. increased its position in Ibotta by 90.2% during the third quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock worth $17,861,000 after buying an additional 304,183 shares during the last quarter. ARK Investment Management LLC raised its stake in Ibotta by 39.3% in the third quarter. ARK Investment Management LLC now owns 907,386 shares of the company’s stock valued at $25,271,000 after buying an additional 255,899 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Ibotta by 17.3% in the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after buying an additional 232,027 shares during the last quarter.

Ibotta Stock Up 3.2%

Shares of IBTA opened at $22.25 on Wednesday. Ibotta has a twelve month low of $19.10 and a twelve month high of $69.46. The stock has a market capitalization of $521.54 million, a P/E ratio of 9.19 and a beta of -0.88. The company has a 50 day moving average of $21.91 and a 200-day moving average of $25.71.

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.