Ibotta (NYSE:IBTA) Shares Gap Down on Analyst Downgrade

Shares of Ibotta, Inc. (NYSE:IBTA) gapped down prior to trading on Thursday after Evercore ISI lowered their price target on the stock from $38.00 to $32.00. The stock had previously closed at $32.73, but opened at $26.49. Evercore ISI currently has an in-line rating on the stock. Ibotta shares last traded at $26.15, with a volume of 125,795 shares trading hands.

IBTA has been the topic of several other reports. UBS Group dropped their target price on shares of Ibotta from $55.00 to $30.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Citizens Jmp downgraded shares of Ibotta from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 14th. JMP Securities restated a “market perform” rating on shares of Ibotta in a research note on Thursday, August 14th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $30.00 target price (down from $60.00) on shares of Ibotta in a research note on Thursday, August 14th. 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 report on Thursday. One equities research analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $32.57.

Institutional Trading of Ibotta

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its stake in shares of Ibotta by 58.1% in the 1st quarter. New York State Common Retirement Fund now owns 4,900 shares of the company’s stock valued at $207,000 after purchasing an additional 1,800 shares during the period. Victory Capital Management Inc. acquired a new position in shares of Ibotta during the first quarter worth about $1,465,000. Pacer Advisors Inc. acquired a new position in shares of Ibotta during the 1st quarter worth about $3,539,000. Wilkins Investment Counsel Inc. increased its position in shares of Ibotta by 1,608.5% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 63,727 shares of the company’s stock worth $2,689,000 after purchasing an additional 59,997 shares during the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake 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 worth $44,458,000 after purchasing an additional 429,516 shares during the last quarter.

Ibotta Price Performance

The company has a market capitalization of $676.74 million, a price-to-earnings ratio of 9.30 and a beta of -1.12. The stock has a 50-day moving average price of $29.63 and a 200-day moving average price of $36.38.

Ibotta (NYSE:IBTA) last released its quarterly earnings data 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 for the quarter. Ibotta had a return on equity of 24.26% and a net margin of 26.24%.The company’s revenue was down 15.5% compared to the same quarter last year. During the same period last year, the business earned $0.94 EPS. Ibotta has set its Q4 2025 guidance at EPS.

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.