Ibotta Inc (IBTA) PT Raised to $65 at Needham

Needham analyst Bernie McTernan raised the price target on Ibotta Inc (NYSE: IBTA) to $65.00 (from $45.00) while maintaining a Buy rating.

The analyst comments "We reiterate our Buy rating and increase our PT to $65 following better than expected 3Q results. We are increasing our '27E adj. EBITDA estimate by +10%, using conservative assumptions of MSD revenue growing and no margin expansion. We think there is significant momentum created by the sales force reorganization, and IBTA should be able to drive penetration gains within existing customers from continued go-to-market execution, creating an attractive risk-reward profile, in our view."

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