Ibotta (NYSE:IBTA) Stock Price Expected to Rise, Citigroup Analyst Says

Key Points

• Citigroup raised its Ibotta price target to $60 from $34 but kept a Neutral rating; the target is about 4% below the stock’s prior close. Shares traded at $62.52 on Wednesday.
• Ibotta reported quarterly revenue of $97.83 million, up 17% year over year, and EPS of $0.62, beating analysts’ $0.13 estimate. The company also forecast fourth-quarter revenue above consensus.
• Analyst views remain mixed: MarketBeat’s average rating is “Reduce” with a $50 average target, while one analyst rates the stock Buy, six Hold, and two Sell.

Ibotta (NYSE:IBTA - Get Free Report) had its price objective lifted by analysts at Citigroup from $34.00 to $60.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Citigroup's target price suggests a potential downside of 4.03% from the company's previous close.

A number of other equities research analysts have also weighed in on IBTA. Weiss Ratings reiterated a "sell (d)" rating on shares of Ibotta in a report on Monday, September 21st. The Goldman Sachs Group raised shares of Ibotta from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $35.00 to $58.00 in a research report on Tuesday. UBS Group upped their target price on shares of Ibotta from $30.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. Evercore set a $58.00 target price on shares of Ibotta in a research report on Tuesday. Finally, Wells Fargo & Company raised their target price on shares of Ibotta from $40.00 to $49.00 and gave the stock an "equal weight" rating in a research report on Tuesday. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $50.00.

Ibotta Stock Performance

Ibotta stock traded up $2.17 during mid-day trading on Wednesday, hitting $62.52. The company's stock had a trading volume of 1,286,017 shares, compared to its average volume of 267,465. The company has a 50 day moving average of $42.92 and a 200-day moving average of $33.05. The stock has a market cap of $1.26 billion, a PE ratio of -93.31 and a beta of -0.46. Ibotta has a one year low of $19.10 and a one year high of $66.39.

Ibotta (NYSE:IBTA - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.49. Ibotta had a negative return on equity of 5.40% and a negative net margin of 4.49%. The business had revenue of $97.83 million for the quarter. During the same quarter in the previous year, the business earned $0.56 EPS. The business's revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Ibotta will post 0.29 EPS for the current fiscal year.

Insider Transactions at Ibotta

In other Ibotta news, CTO Luke Swanson sold 3,094 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $59.90, for a total transaction of $185,330.60. Following the transaction, the chief technology officer directly owned 418,008 shares in the company, valued at $25,038,679.20. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Marisa Daspit sold 720 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $50.01, for a total transaction of $36,007.20. Following the transaction, the insider owned 115,539 shares in the company, valued at approximately $5,778,105.39. The trade was a 0.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 190,320 shares of company stock valued at $8,525,023. 20.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Ibotta

Large investors have recently bought and sold shares of the business. State of Alaska Department of Revenue lifted its holdings in Ibotta by 32.9% during the third quarter. State of Alaska Department of Revenue now owns 1,083 shares of the company's stock worth $42,000 after buying an additional 268 shares during the period. Engineers Gate Manager LP purchased a new position in shares of Ibotta in the 2nd quarter valued at $328,000. Squarepoint Ops LLC purchased a new position in shares of Ibotta in the 2nd quarter valued at $290,000. Essential Partners LLC raised its position in shares of Ibotta by 40,800.0% in the 1st quarter. Essential Partners LLC now owns 818 shares of the company's stock worth $25,000 after acquiring an additional 816 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Ibotta by 17.8% in the 1st quarter. Bank of America Corp DE now owns 239,167 shares of the company's stock worth $7,168,000 after acquiring an additional 36,223 shares in the last quarter.

Key Ibotta News

Here are the key news stories impacting Ibotta this week:

• Positive Sentiment: Third-quarter revenue rose 17% year over year to $97.8 million, beating estimates, while adjusted EPS of $0.62 substantially exceeded forecasts. Adjusted EBITDA also increased 43%. Ibotta Reports Third Quarter 2026 Financial Results
• Positive Sentiment: Growth indicators pointed to a stronger business: redemption revenue increased 23%, the redeemer base grew 30% to 23.6 million, and third-party publisher redemption revenue rose 43%. Coverage attributed the recovery partly to improved demand for Ibotta’s marketing services. Ibotta: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Fourth-quarter revenue guidance of $94 million–$98 million topped the approximately $93.3 million consensus estimate. Goldman Sachs also removed its Sell rating, upgrading IBTA to Neutral and lifting its target to $58 from $35; other analyst targets reportedly reached as high as $65. Goldman Sachs Upgrades Ibotta to Neutral
• Neutral Sentiment: Despite the adjusted earnings beat, Ibotta reported a negative net margin for the quarter. Goldman’s $58 target is also below the stock’s recent price, tempering the positive signal from the rating upgrade.

About Ibotta

Ibotta, Inc is a technology company that operates a digital promotions and rewards platform. Through its Ibotta app and website, consumers can earn cash back and other rewards by purchasing eligible products from participating retailers. The company's offerings are designed to help brands and retailers deliver targeted promotions, measure consumer engagement and encourage purchases.

Ibotta also provides its technology to retailers, publishers and other business partners through the Ibotta Performance Network.

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