Ibotta (NYSE:IBTA) Hits New 12-Month Low - What's Next?
Ibotta (NYSE:IBTA) hit a new 52-week low, trading as low as $22.00. Analysts have mixed ratings: Needham & Company LLC set a "buy" rating, while Bank of America rated it "underperform." The stock has a consensus rating of "Reduce." Ibotta reported Q3 earnings of $0.56 per share, beating estimates. Institutional investors have adjusted their holdings. The company's market cap is $518.49 million with a P/E ratio of 9.14.
Ibotta, Inc. (NYSE:IBTA - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The company traded as low as $22.00 and last traded at $22.32, with a volume of 77802 shares. The stock had previously closed at $22.10.
Analyst Ratings Changes
- Ibotta Stock: Why the Buyback Looks Like a Bullish Bet
IBTA has been the subject of a number of research analyst reports. Needham & Company LLC dropped their price objective on shares of Ibotta from $70.00 to $33.00 and set a "buy" rating for the company in a report on Thursday, August 14th. Bank of America dropped their price target on Ibotta from $24.00 to $22.00 and set an "underperform" rating for the company in a research note on Thursday, November 13th. JMP Securities reiterated a "market perform" rating on shares of Ibotta in a report on Thursday, August 14th. Wall Street Zen upgraded Ibotta from a "sell" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, Citizens Jmp downgraded Ibotta from an "outperform" rating to a "market perform" rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus target price of $32.57.
Read Our Latest Stock Analysis on Ibotta
Ibotta Trading Up 0.1%
The stock has a market capitalization of $518.49 million, a P/E ratio of 9.14 and a beta of -0.90. The business's fifty day simple moving average is $28.16 and its two-hundred day simple moving average is $32.48.
Ibotta (NYSE:IBTA - Get Free Report) last released its earnings results 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. 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 quarter in the previous year, the business posted $0.94 EPS. The firm's quarterly revenue was down 15.5% on a year-over-year basis.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Ibotta by 17.3% in the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company's stock worth $43,749,000 after purchasing an additional 232,027 shares during the period. Southpoint Capital Advisors LP raised its stake in shares of Ibotta by 48.2% in the 1st quarter. Southpoint Capital Advisors LP now owns 1,536,500 shares of the company's stock valued at $64,840,000 after buying an additional 499,556 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Ibotta by 15.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,281,219 shares of the company's stock worth $35,682,000 after acquiring an additional 168,054 shares during the period. Amova Asset Management Americas Inc. boosted its position in shares of Ibotta by 15.6% during the 3rd quarter. Amova Asset Management Americas Inc. now owns 1,279,652 shares of the company's stock valued at $35,600,000 after acquiring an additional 172,314 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. increased its stake in Ibotta by 5.1% in the second quarter. Nikko Asset Management Americas Inc. now owns 1,107,338 shares of the company's stock valued at $40,529,000 after acquiring an additional 53,820 shares during the period.
About Ibotta
(Get Free Report)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.
Recommended Stories
- Five stocks we like better than Ibotta
- Energy and Oil Stocks Explained
- Qualcomm Just Got Called an AI Loser—So Why Is It Rallying?
- How to Use the MarketBeat Stock Screener
- 2 Small-Cap Biotechs That Could Reward Patient Investors
- What Investors Need to Know to Beat the Market
- Santa Claus May Be Coming Early for Palantir Investors
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Ibotta Right Now?
Before you consider Ibotta, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ibotta wasn't on the list.
While Ibotta currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
