Ibotta's (IBTA) "Sell (D)" Rating Reiterated at Weiss Ratings

Key Points

• Ibotta's stock has a reaffirmed **"sell (d)" rating** from Weiss Ratings, indicating continued concerns among analysts regarding the company's performance.
• A range of target prices have been issued by various analysts, with **Evercore ISI** lowering its target from $65.00 to **$38.00**, and **Bank of America** from $57.00 to **$24.00**.
• Despite recent downgrades, **institutional investors** have been increasing their positions in Ibotta, with ARK Investment Management boosting its stake by **299.8%** in the last quarter.

Ibotta (NYSE:IBTA - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by equities researchers at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts have also issued reports on the stock. Evercore ISI reissued an "in-line" rating and set a $38.00 target price (down previously from $65.00) on shares of Ibotta in a research note on Thursday, August 14th. Bank of America reissued an "underperform" rating and set a $24.00 target price (down previously from $57.00) on shares of Ibotta in a research note on Thursday, August 14th. Citigroup lowered shares of Ibotta from a "buy" rating to a "market perform" rating in a research note on Thursday, August 14th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $30.00 price objective (down previously from $60.00) on shares of Ibotta in a research note on Thursday, August 14th. Finally, UBS Group reduced their price objective on shares of Ibotta from $55.00 to $30.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price of $34.71.

Ibotta Stock Up 0.8%

Shares of NYSE:IBTA opened at $30.32 on Wednesday. The firm has a fifty day moving average of $28.49 and a two-hundred day moving average of $38.80. The firm has a market capitalization of $765.88 million, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 24.07 and a beta of -1.19. Ibotta has a 12-month low of $22.50 and a 12-month high of $79.80.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. ARK Investment Management LLC lifted its position in Ibotta by 299.8% during the 1st quarter. ARK Investment Management LLC now owns 704,308 shares of the company's stock worth $29,722,000 after acquiring an additional 528,147 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Ibotta by 67.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,043,758 shares of the company's stock worth $44,047,000 after acquiring an additional 419,516 shares during the last quarter. XTX Topco Ltd lifted its position in Ibotta by 237.9% during the 1st quarter. XTX Topco Ltd now owns 24,068 shares of the company's stock worth $1,016,000 after acquiring an additional 16,945 shares during the last quarter. Nuveen LLC acquired a new position in Ibotta during the 1st quarter worth $2,340,000. Finally, AMI Asset Management Corp acquired a new position in Ibotta during the 1st quarter worth $488,000.

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.

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