Evercore ISI initiated coverage of Ibotta with an Outperform rating and $125 price target. Ibotta is a provider of digital promotions and performance marketing solutions for consumer packaged goods, or CPG, brands and the firm’s thesis is predicated on the view that Ibotta has established itself as a leader in the digital promotions space based on a differentiated pay-for-performance model and a robust two-sided marketplace, the analyst tells investors. Ibotta has growing competitive moats and “a very solid value proposition” for CPG brands, retailers, and consumers, the analyst added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on IBTA:
- Opening Day: China-based EV maker Zeekr’s stock soars following IPO
- Ibotta Appoints Stephen Bailey to Board of Directors and Shalin Patel as new Head of Investor Relations
- Ibotta To Announce First Quarter 2024 Financial Results on May 30, 2024
- Ibotta Announces Full Exercise of Underwriters’ Option to Purchase Additional Shares in Initial Public Offering
- Ibotta, Inc. Announces Corporate Changes and Regulatory Disclosure
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue