Ibotta, Inc. Class A, the Technology sector company, was revisited by a Wall Street analyst today. Analyst Bernie McTernan from Needham reiterated a Buy rating on the stock and has a $33.00 price target.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Bernie McTernan has given his Buy rating due to a combination of factors, primarily focusing on Ibotta, Inc.’s potential for growth and the strategic steps the company is taking. Despite some challenges in the adoption of their in-campaign measurement tool, LiveLift, the company is showing progress with peak levels of pilots and strong conversion rates from past pilots, which indicates a positive trajectory.
McTernan acknowledges that while the adoption process is slower than desired, the company’s efforts to change the digital promotions landscape could lead to significant upside potential. The current discounted valuation of Ibotta, Inc. shares presents an attractive opportunity, even as expectations for next year’s revenue have been adjusted downward. Overall, the risk-reward profile remains wide, but the potential for growth justifies the Buy rating.
McTernan covers the Consumer Cyclical sector, focusing on stocks such as DraftKings, Super Group (SGHC), and Flutter Entertainment PLC. According to TipRanks, McTernan has an average return of 5.8% and a 47.20% success rate on recommended stocks.
In another report released yesterday, TR | OpenAI – 4o also upgraded the stock to a Buy with a $34.00 price target.