Citigroup Inc. Raises Position in Ibotta, Inc. $IBTA

Citigroup Inc. raised its position in shares of Ibotta, Inc. (NYSE:IBTA) by 90.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 641,337 shares of the company’s stock after acquiring an additional 304,183 shares during the quarter. Citigroup Inc.’s holdings in Ibotta were worth $17,861,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Ibotta by 17.3% during the third quarter. Vanguard Group Inc. now owns 1,570,896 shares of the company’s stock valued at $43,749,000 after purchasing an additional 232,027 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Ibotta by 2.0% during the 3rd quarter. Rhumbline Advisers now owns 19,256 shares of the company’s stock valued at $536,000 after buying an additional 380 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in shares of Ibotta in the 3rd quarter worth about $924,000. Y Intercept Hong Kong Ltd bought a new position in shares of Ibotta in the 3rd quarter worth about $217,000. Finally, Strs Ohio lifted its position in Ibotta by 49.3% during the 3rd quarter. Strs Ohio now owns 21,800 shares of the company’s stock valued at $607,000 after acquiring an additional 7,200 shares during the period.

Ibotta Price Performance

IBTA stock opened at $24.90 on Friday. The stock has a market capitalization of $583.78 million, a P/E ratio of 226.38 and a beta of -0.88. Ibotta, Inc. has a 1-year low of $19.10 and a 1-year high of $62.74. The business has a fifty day moving average price of $22.01 and a 200-day moving average price of $25.47.

Ibotta (NYSE:IBTA) last released its quarterly earnings data on Wednesday, February 25th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The business had revenue of $88.53 million during the quarter. Ibotta had a return on equity of 0.99% and a net margin of 1.04%.The business’s quarterly revenue was down 10.0% compared to the same quarter last year. During the same period last year, the firm earned $0.67 EPS.

Wall Street Analysts Forecast Growth

IBTA has been the subject of a number of analyst reports. Bank of America decreased their target price on shares of Ibotta from $24.00 to $22.00 and set an “underperform” rating for the company in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ibotta in a research report on Monday, December 29th. Evercore dropped their target price on Ibotta from $38.00 to $32.00 and set an “in-line” rating on the stock in a report on Thursday, November 13th. Wall Street Zen downgraded Ibotta from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Wells Fargo & Company lifted their price target on Ibotta from $30.00 to $34.00 and gave the stock an “equal weight” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $33.14.

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.