Ibotta (NYSE:IBTA) Shares Down 5.2% – What’s Next?

Ibotta, Inc. (NYSE:IBTA)’s share price traded down 5.2% during trading on Wednesday . The stock traded as low as $24.30 and last traded at $24.31. 185,795 shares changed hands during trading, a decline of 46% from the average session volume of 341,071 shares. The stock had previously closed at $25.65.

Wall Street Analyst Weigh In

IBTA has been the subject of a number of research reports. Wall Street Zen lowered shares of Ibotta from a “hold” rating to a “sell” rating in a research note on Saturday. Bank of America lowered their price target on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research report on Thursday, November 13th. The Goldman Sachs Group dropped their price objective on shares of Ibotta from $26.00 to $23.00 and set a “sell” rating on the stock in a research note on Thursday, November 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Ibotta in a report on Monday, December 29th. Finally, Evercore lowered 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. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $33.14.

Ibotta Stock Down 5.3%

The business has a 50-day moving average price of $22.15 and a 200-day moving average price of $25.37. The firm has a market capitalization of $514.98 million, a price-to-earnings ratio of 220.75 and a beta of -1.20.

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 analysts’ consensus estimates 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 for the quarter. During the same quarter last year, the firm earned $0.67 EPS. The company’s quarterly revenue was down 10.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. CWM LLC lifted its position in Ibotta by 225.2% during the second quarter. CWM LLC now owns 943 shares of the company’s stock valued at $35,000 after purchasing an additional 653 shares during the period. Quantbot Technologies LP purchased a new position in shares of Ibotta during the 2nd quarter valued at about $66,000. Caitong International Asset Management Co. Ltd lifted its holdings 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 buying an additional 1,185 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Ibotta by 47,920.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock worth $55,000 after buying an additional 2,396 shares during the last quarter. Finally, Jones Financial Companies Lllp acquired a new stake in Ibotta during the first quarter worth about $161,000.

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.