Ibotta (NYSE:IBTA) Given New $23.00 Price Target at The Goldman Sachs Group

Ibotta (NYSE:IBTA) had its price target lowered by equities research analysts at The Goldman Sachs Group from $26.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential downside of 12.05% from the company’s current price.

Several other research analysts have also issued reports on the company. UBS Group decreased their target price on Ibotta from $55.00 to $30.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Evercore ISI restated an “in-line” rating and set a $38.00 price target (down from $65.00) on shares of Ibotta in a report on Thursday, August 14th. JMP Securities reissued a “market perform” rating on shares of Ibotta in a research 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. Finally, Wall Street Zen upgraded shares of Ibotta from a “sell” rating to a “hold” rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Ibotta currently has an average rating of “Reduce” and an average target price of $32.57.

Ibotta Stock Performance

NYSE IBTA traded down $6.58 during trading hours on Thursday, hitting $26.15. The company had a trading volume of 125,795 shares, compared to its average volume of 438,680. The firm has a 50 day simple moving average of $29.63 and a 200 day simple moving average of $36.38. Ibotta has a 52 week low of $22.50 and a 52 week high of $76.99. The firm has a market capitalization of $660.58 million, a price-to-earnings ratio of 9.08 and a beta of -1.12.

Ibotta (NYSE:IBTA) last announced its earnings results on Wednesday, November 12th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.22. The business 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%.Ibotta’s revenue was down 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.94 earnings per share. Ibotta has set its Q4 2025 guidance at EPS.

Hedge Funds Weigh In On Ibotta

A number of hedge funds and other institutional investors have recently modified their holdings of IBTA. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Ibotta during the first quarter valued at about $25,000. CWM LLC increased its position in Ibotta by 225.2% in the second quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after purchasing an additional 653 shares during the last quarter. Private Wealth Asset Management LLC bought a new position in shares of Ibotta in the 2nd quarter valued at about $37,000. Quantbot Technologies LP purchased a new stake in Ibotta in the second quarter worth $66,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Ibotta by 144.2% during the second quarter. Tower Research Capital LLC TRC now owns 3,851 shares of the company’s stock valued at $141,000 after purchasing an additional 2,274 shares during the period.

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.