Ibotta catches Wall Street's attention, gets coverage from multiple analysts

seekingalpha05-14

Ibotta stock (NYSE:IBTA) on Monday rose as much as 1.5% after at least four analysts initiated coverage on the digital marketing firm. The company was initiated with a “Buy” rating by UBS and Citi. ...

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The company was initiated with a “Buy” rating by UBS and Citi. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4105391-ibotta-catches-wall-streets-attention-gets-coverage-from-multiple-analysts\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Ibotta catches Wall Street's attention, gets coverage from multiple analysts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIbotta catches Wall Street's attention, gets coverage from multiple analysts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-14 02:41 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4105391-ibotta-catches-wall-streets-attention-gets-coverage-from-multiple-analysts><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Ibotta stock (NYSE:IBTA) on Monday rose as much as 1.5% after at least four analysts initiated coverage on the digital marketing firm. The company was initiated with a “Buy” rating by UBS and Citi. ...</p>\n\n<a href=\"https://seekingalpha.com/news/4105391-ibotta-catches-wall-streets-attention-gets-coverage-from-multiple-analysts\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2505996681.GBP","symbol_name":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","start_time":0,"source_url":"https://seekingalpha.com/news/4105391-ibotta-catches-wall-streets-attention-gets-coverage-from-multiple-analysts","article_id":"2435942309","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1289221809/image_1289221809.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2435942309","pubTimestamp":1715625689,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Ibotta stock (NYSE:IBTA) on Monday rose as much as 1.5% after at least four analysts initiated coverage on the digital marketing firm. The company was initiated with a “Buy” rating by UBS and Citi. 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The company was initiated with a “Buy” rating by UBS and Citi. JMP started coverage on the firm with the most bullish stance and rated it “Market Outperform,” while Goldman Sachs took a more conservative approach and started with “Neutral”. Wall Street analysts on Ibotta JMP (Price Target $130): “Our positive view is driven by Ibotta's growing scale with 2.4K+ CPG brands and 850 retail partners and exposure to 200M+ consumers, and we believe more consumer reach can attract more brands, increasing coverage, and attracting more merchants. With high unit economics and an ~$200B opportunity within the CPG category, we believe Ibotta can drive significant free cash flow for shareholders”. UBS (Price Target $125) “Ibotta is taking the right steps to position itself for durable 20%+ revenue growth as the Walmart relationship scales and Ibotta onboards new 3P publishers. Our current 20% revenue CAGR does not assume Ibotta partners with a delivery platform despite seeing a strong product fit, and Instacart, DoorDash or Uber representing larger potential opportunity than Ibotta's second largest partner, Kroger. Regarding margins, considering the ad-like nature of the Ibotta model, the key lever for delivering our targeted 70% incremental margins will be Ibotta delivering revenue growth. Currently we model cash expenses to compound at 9% annually over the next 3 years which leaves limited room for further cost cuts, but we note that Ibotta's cash expenses were flat YoY in FY23.” Citi (Price Target $120): “Ibotta is the leader in digital promotions with 4x the digital promotions of its nearest competitor and given a 7x ROAS across its CPG partners with its closed loop attribution model, more retailers joining its network, and the potential for greater brand penetration and expansion to newer verticals, we believe Ibotta is well positioned to expand its lead across the sector. To be clear, it remains early days in the build-out of its Ibotta Performance Network (IPN) and the mix-shift from Ibotta’s core D2C app, but with Walmart now fully live and newer retailers (Family Dollar) joining, we believe more brands are likely to join the platform given Ibotta’s growing scale and reach (200M+ consumers). At scale, we believe Ibotta can deliver 50%+ EBITDA margins and believe there is likely upside to projections as Ibotta’s network expands.” Goldman Sachs (Price Target $103): “We are initiating coverage of Ibotta with a Neutral rating and a $103 12-month PT. Ibotta is a technology company that facilitates the delivery of digital promotions by CPG brands & other advertisers to consumers through the Ibotta Performance Network. We view Ibotta as positively levered to a number of long-term secular growth themes within our sector across both digital advertising and grocery (shift in spend from offline to online channels in both industries). In the current market environment, we see debates around the overall macroeconomic impact on digital advertising, the pace/cadence of 3P redeemer additions and the impact of the Walmart partnership as being the biggest potential drivers to upside/downside volatility in the coming year.” IBTA shares have risen nearly 6% since went public this year in April.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435942309"}