Ibotta (NYSE:IBTA) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Ibotta (NYSE:IBTA) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

Other analysts have also recently issued research reports about the stock. Bank of America reduced their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. Evercore reduced their target price on Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a report on Thursday, November 13th. Wells Fargo & Company lifted 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, February 26th. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Finally, The Goldman Sachs Group dropped their price objective on Ibotta from $26.00 to $23.00 and set a “sell” rating for the company in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Ibotta has an average rating of “Reduce” and an average price target of $33.14.

Ibotta Stock Performance

Shares of Ibotta stock opened at $24.76 on Friday. Ibotta has a 1 year low of $19.10 and a 1 year high of $62.74. The company’s fifty day moving average is $22.07 and its two-hundred day moving average is $25.36. The company has a market capitalization of $580.50 million, a P/E ratio of 225.11 and a beta of -0.88.

Ibotta (NYSE:IBTA) last issued its quarterly earnings results 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). Ibotta had a net margin of 1.04% and a return on equity of 1.04%. The company had revenue of $88.53 million during the quarter. During the same quarter in the previous year, the business earned $0.67 EPS. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year.

Institutional Trading of Ibotta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in 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 purchasing an additional 542,313 shares in the last quarter. Deutsche Bank AG raised its position in shares of Ibotta by 3,449.8% in the fourth quarter. Deutsche Bank AG now owns 369,890 shares of the company’s stock valued at $8,408,000 after buying an additional 359,470 shares during the last quarter. Citigroup Inc. raised its position in shares of Ibotta by 90.2% in the third quarter. Citigroup Inc. now owns 641,337 shares of the company’s stock valued at $17,861,000 after buying an additional 304,183 shares during the last quarter. ARK Investment Management LLC lifted its stake in shares of Ibotta by 39.3% during 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. boosted its position in Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock worth $43,749,000 after acquiring an additional 232,027 shares during the last quarter.

About Ibotta

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.