Evercore analyst Mark Mahaney maintains $Ibotta (IBTA.US)$ with a buy rating, and adjusts the target price from $114 to $97.
According to TipRanks data, the analyst has a success rate of 63.5% and a total average return of 28.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ibotta (IBTA.US)$'s main analysts recently are as follows:
Ibotta's Q3 results surpassed consensus expectations concerning revenue and EBITDA. However, the company forecasted Q4 sales and EBITDA that did not meet consensus, citing the depletion of CPG budgets and a disconnect between demand and supply as reasons for the weaker Q4 guidance. Near-term uncertainties have led to revised estimates following the report.
It was noted that Ibotta's advertiser budgets appeared to be depleted in the third quarter, which is likely to disrupt the usual seasonal trends observed in the fourth quarter. Consequently, there is a decline in the expectation that a rapid increase in Redeemer growth will lead to a corresponding rise in advertiser budget, particularly in the short run. Observers are inclined to adopt a cautious stance, awaiting signs that advertisers are beginning to treat promotional budgets more as flexible marketing funds that are employed consistently as part of their advertising arsenal.
Ibotta's optimistic earnings outcome was once more overshadowed by reduced future guidance, marking the third time in its tenure as a public entity. It is anticipated that a growth resurgence will occur in the first half of 2025 due to revitalized budgets, an increase in demand sources, and enhanced sales products designed to tap into ROI-driven budgets.
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