Ibotta, Inc. (NYSE:IBTA) Receives $32.57 Consensus Target Price from Brokerages

Ibotta, Inc. (NYSE:IBTA) has been assigned a consensus recommendation of “Reduce” from the ten ratings firms that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $32.5714.

A number of equities analysts have recently issued reports on the company. Evercore ISI lowered their price objective on Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a research report on Thursday, November 13th. The Goldman Sachs Group decreased their price objective 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. UBS Group lowered their price objective on Ibotta from $55.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Citizens Jmp cut Ibotta from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 14th. Finally, 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Ibotta by 17.3% in the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after purchasing an additional 232,027 shares during the period. Southpoint Capital Advisors LP grew its stake in shares of Ibotta by 48.2% in the 1st quarter. Southpoint Capital Advisors LP now owns 1,536,500 shares of the company’s stock valued at $64,840,000 after buying an additional 499,556 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Ibotta by 15.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company’s stock valued at $35,682,000 after buying an additional 168,054 shares in the last quarter. Amova Asset Management Americas Inc. raised its stake in Ibotta by 15.6% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company’s stock worth $35,600,000 after buying an additional 172,314 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its holdings in Ibotta by 5.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 1,107,338 shares of the company’s stock worth $40,529,000 after acquiring an additional 53,820 shares in the last quarter.

Ibotta Stock Performance

Shares of NYSE:IBTA opened at $22.71 on Friday. The firm has a market cap of $532.44 million, a PE ratio of 9.38 and a beta of -0.88. The firm’s fifty day moving average is $28.42 and its 200-day moving average is $32.63. Ibotta has a 52 week low of $22.00 and a 52 week high of $76.84.

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 analysts’ consensus estimates of $0.34 by $0.22. The business had revenue of $83.26 million during the quarter. Ibotta had a return on equity of 20.94% and a net margin of 22.92%.The business’s revenue for the quarter was down 15.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share.

Ibotta Company Profile

Ibotta’s mission is to Make Every Purchase Rewarding. Our technology allows CPG brands to deliver digital promotions to over 200 million consumers through a single, convenient network called the Ibotta Performance Network (IPN). We are pioneers in success-based marketing: we only get paid when our client’s promotion results in a sale, not when a consumer merely views or clicks on the promotion.