Bank of America Issues Pessimistic Forecast for Ibotta (NYSE:IBTA) Stock Price

Ibotta (NYSE:IBTA) had its target price decreased by stock analysts at Bank of America from $24.00 to $22.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s price objective would suggest a potential downside of 32.58% from the stock’s current price.

A number of other brokerages have also recently commented on IBTA. UBS Group reduced their price target on Ibotta from $55.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Wall Street Zen raised shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. The Goldman Sachs Group cut shares of Ibotta from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $30.00 to $26.00 in a research note on Tuesday, October 14th. JMP Securities reiterated a “market perform” rating on shares of Ibotta in a research report on Thursday, August 14th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $33.43.

Ibotta Price Performance

Shares of IBTA opened at $32.63 on Thursday. The firm has a market capitalization of $824.27 million, a P/E ratio of 11.33 and a beta of -1.12. Ibotta has a one year low of $22.50 and a one year high of $79.80. The business has a fifty day moving average of $29.63 and a 200 day moving average of $36.38.

Ibotta (NYSE:IBTA) last issued its quarterly earnings data on Wednesday, November 12th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.22. Ibotta had a net margin of 26.24% and a return on equity of 24.26%. The firm had revenue of $83.26 million for the quarter. During the same quarter last year, the company earned $0.94 EPS. Ibotta’s revenue for the quarter was down 15.5% on a year-over-year basis. Ibotta has set its Q4 2025 guidance at EPS.

Institutional Trading of Ibotta

A number of large investors have recently added to or reduced their stakes in IBTA. New York State Common Retirement Fund boosted its position in shares of Ibotta by 58.1% during the 1st quarter. New York State Common Retirement Fund now owns 4,900 shares of the company’s stock valued at $207,000 after acquiring an additional 1,800 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in Ibotta during the first quarter valued at $1,465,000. Pacer Advisors Inc. bought a new position in Ibotta during the first quarter valued at $3,539,000. Wilkins Investment Counsel Inc. grew its stake in shares of Ibotta by 1,608.5% in the 1st quarter. Wilkins Investment Counsel Inc. now owns 63,727 shares of the company’s stock worth $2,689,000 after buying an additional 59,997 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. raised its position in shares of Ibotta by 68.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,053,518 shares of the company’s stock valued at $44,458,000 after buying an additional 429,516 shares in the last quarter.

About Ibotta

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.