Ibotta (NYSE:IBTA) Hits New 1-Year Low – Here’s What Happened

Ibotta, Inc. (NYSE:IBTA)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $20.16 and last traded at $20.54, with a volume of 336251 shares traded. The stock had previously closed at $21.83.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on IBTA shares. Bank of America reduced their price objective on Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a report on Thursday, November 13th. Evercore ISI cut their price target 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. The Goldman Sachs Group lowered 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. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ibotta in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $32.57.

Ibotta Stock Performance

The company has a market capitalization of $481.46 million, a PE ratio of 9.02 and a beta of -0.89. The stock’s fifty day simple moving average is $22.61 and its 200-day simple moving average is $27.76.

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

Hedge Funds Weigh In On Ibotta

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its stake in Ibotta by 225.2% in the 2nd quarter. CWM LLC now owns 943 shares of the company’s stock worth $35,000 after buying an additional 653 shares during the last quarter. Private Wealth Asset Management LLC acquired a new stake in shares of Ibotta in the second quarter worth approximately $37,000. Farther Finance Advisors LLC grew its holdings in Ibotta by 47,920.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,401 shares of the company’s stock valued at $55,000 after purchasing an additional 2,396 shares during the period. Quantbot Technologies LP purchased a new position in Ibotta during the second quarter worth approximately $66,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Ibotta by 144.2% in the 2nd 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 last quarter.

About Ibotta

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.