BofA Securities analyst Curtis Nagle maintains $Ibotta (IBTA.US)$ with a buy rating, and maintains the target price at $90.
According to TipRanks data, the analyst has a success rate of 47.8% and a total average return of -3.3% 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 exceeded expectations in terms of revenue and EBITDA, yet forecasts for Q4 show sales and EBITDA falling short of consensus. The anticipated weaker performance for Q4 is ascribed to the depletion of CPG budgets, with a noted discrepancy between demand and supply. The analyst notes that estimates have been adjusted to reflect the near-term uncertainty post-report.
The company has indicated that advertiser budgets were depleted in Q3, leading to an atypical Q4 seasonality. This development has led to a reassessment of the expectation that increased Redeemer growth would drive advertiser budget growth, at least in the short term. As a result, there is a preference to observe from a neutral standpoint until there is clear evidence that advertisers are treating these promotional budgets as flexible marketing spend, to be used as consistent advertising instruments.
Ibotta's impressive earnings outcome was once more overshadowed by a lower guidance, marking the third instance in consecutive public company quarters. The expectation is for a growth recovery in the first half of 2025, driven by rejuvenated budgets, a diversification of demand sources, and enhanced sales products designed to tap into ROI-driven budgets.
Note:
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