Wells Fargo analyst Ken Gawrelski maintains $Ibotta (IBTA.US)$ with a buy rating, and adjusts the target price from $95 to $86.
According to TipRanks data, the analyst has a success rate of 64.4% and a total average return of 10.9% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ibotta (IBTA.US)$'s main analysts recently are as follows:
Q3 results for Ibotta surpassed the consensus estimates for revenue and EBITDA. However, the company's forecast for Q4 indicates sales and EBITDA that fall short of consensus expectations. This weaker outlook for Q4 is being attributed to the depletion of CPG budgets, with a noted discrepancy between demand and supply. In light of these developments, expectations for the near term have been moderated following this announcement.
The company noted a depletion of advertiser budgets during Q3, indicating that the usual Q4 seasonality might not be observed. This has led to a diminished confidence in the correlation between rapid Redeemer growth and advertiser budget expansion, at least in the short term. It is now preferable to observe from a distance until there is clear evidence that advertisers are treating these promotional budgets as flexible marketing funds to be used as consistent advertising tools.
A promising earnings result was once more balanced out by a lower guidance, marking the third time in as many public company quarters. Growth recovery is anticipated in the first half of 2025, driven by renewed budgets, expanding demand sources, and enhanced sales products designed to tap into ROI-driven budgets.
Note:
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