Ibotta (NYSE:IBTA) Shares Gap Up Following Analyst Upgrade

Ibotta, Inc. (NYSE:IBTA) shares gapped up before the market opened on Thursday after Wells Fargo & Company raised their price target on the stock from $30.00 to $34.00. The stock had previously closed at $20.50, but opened at $24.52. Wells Fargo & Company currently has an equal weight rating on the stock. Ibotta shares last traded at $26.67, with a volume of 123,188 shares trading hands.

A number of other brokerages have also recently commented on IBTA. The Goldman Sachs Group decreased their price target on Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, November 13th. Evercore cut their price target on Ibotta from $38.00 to $32.00 and set an “in-line” rating on the stock in a research note on Thursday, November 13th. 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 note on Thursday, November 13th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $33.14.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its position in shares of Ibotta by 225.2% in the 2nd quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after acquiring an additional 653 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Ibotta by 187.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,817 shares of the company’s stock valued at $41,000 after purchasing an additional 1,185 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Ibotta by 47,920.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after acquiring an additional 2,396 shares during the period. Quantbot Technologies LP purchased a new stake in Ibotta in the second quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC lifted its position in Ibotta by 144.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock valued at $141,000 after purchasing an additional 2,274 shares during the period.

Ibotta Price Performance

The stock’s fifty day moving average is $21.85 and its 200-day moving average is $25.50. The stock has a market capitalization of $671.79 million, a PE ratio of 11.84 and a beta of -0.88.

Ibotta (NYSE:IBTA) last announced its quarterly earnings data on Wednesday, February 25th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The business had revenue of $88.53 million for the quarter. Ibotta had a net margin of 22.92% and a return on equity of 20.94%. The company’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.67 earnings per share.

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.