Goldman Sachs Upgrades Ibotta Inc (IBTA) to Neutral

Goldman Sachs analyst Eric Sheridan upgraded Ibotta Inc (NYSE: IBTA) from Sell to Neutral with a price target of $58.00 (from $35.00).

The analyst comments "We see this quarter’s results as providing further evidence that the platform transition is gaining traction, providing greater confidence in the company’s ability to execute against an improving growth trajectory, albeit with the slope and durability of that growth as key areas to monitor as the business continues to scale. As a result, we upgrade our rating from Sell to Neutral and raise our 12-month price target from $35 to $58 as we update our forward estimates for this earnings report and mgmt’s updated forward commentary."

For an analyst ratings summary and ratings history on Ibotta Inc click here. For more ratings news on Ibotta Inc click here.

Shares of Ibotta Inc closed at $50.07 yesterday.

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