Ibotta (NYSE:IBTA) Trading Up 5% – Time to Buy?

Ibotta, Inc. (NYSE:IBTA)’s stock price rose 5% on Wednesday . The stock traded as high as $22.61 and last traded at $22.60. Approximately 102,781 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 446,735 shares. The stock had previously closed at $21.52.

Analyst Upgrades and Downgrades

IBTA has been the subject of several recent research reports. Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Monday. The Goldman Sachs Group cut 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. Evercore ISI reduced their price objective on Ibotta from $38.00 to $32.00 and set an “in-line” rating for the company in a research note on Thursday, November 13th. Bank of America cut their price target on Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a report on Thursday, November 13th. Finally, Wall Street Zen raised Ibotta from a “sell” rating to a “hold” rating in a research note on Saturday, September 13th. One research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Ibotta has an average rating of “Reduce” and an average price target of $32.57.

Ibotta Stock Performance

The business’s fifty day simple moving average is $26.75 and its 200-day simple moving average is $30.66. The firm has a market capitalization of $531.15 million, a PE ratio of 9.36 and a beta of -0.90.

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

Institutional Trading of Ibotta

A number of large investors have recently added to or reduced their stakes in IBTA. Rhumbline Advisers grew its holdings in shares of Ibotta by 2.0% in the third quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock valued at $536,000 after purchasing an additional 380 shares in the last quarter. CWM LLC lifted its position in Ibotta by 50.8% during the third quarter. CWM LLC now owns 1,422 shares of the company’s stock valued at $40,000 after purchasing an additional 479 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Ibotta by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,394 shares of the company’s stock worth $396,000 after buying an additional 515 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Ibotta by 34.6% during the 3rd quarter. Quantbot Technologies LP now owns 2,420 shares of the company’s stock valued at $67,000 after buying an additional 622 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Ibotta by 6.9% in the 1st quarter. Deutsche Bank AG now owns 11,030 shares of the company’s stock valued at $465,000 after acquiring an additional 713 shares during the last quarter.

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.