Ibotta Has 'Significant Revenue Upside': 4 Analysts Begin Coverage
Ibotta Has 'Significant Revenue Upside': 4 Analysts Begin Coverage
Shares of Ibotta Inc (NYSE:IBTA) were climbing in early trading on Monday, less than a month after its initial public offering (IPO).
周一，在首次公开募股（IPO）不到一个月后，Ibotta Inc（纽约证券交易所代码：IBTA）的股价在早盘交易中攀升。
- Needham analyst Bernie McTernan initiated coverage with a Buy rating and price target of $125.
- BofA Securities analyst Curtis Nagle began coverage with a Buy rating and price target of $117.
- Goldman Sachs analyst Eric Sheridan initiated coverage with a Neutral rating and price target of $103.
- JMP Securities analyst Andrew Boone began coverage with a Market Outperform rating and price target of $130.
- Needham分析师伯尼·麦克特南启动了报道，买入评级和目标股价为125美元。
- 美银证券分析师柯蒂斯·纳格尔在开始报道时将买入评级和目标股价为117美元。
- 高盛分析师埃里克·谢里丹启动了报道，评级为中性，目标股价为103美元。
- JMP证券分析师安德鲁·布恩开始报道时将市场跑赢大盘的评级和目标股价为130美元。
Check out other analyst stock ratings.
查看其他分析师股票评级。
Needham: "Ibotta offers a compelling combination of growth and profitability," which is being driven by the company's pivot to a "performance network that is integrated within third-party publishers," like Walmart Inc (NYSE:WMT), McTernan said in the initiation note. "We think this pivot will boost the company's share of performance budgets, improve its unit economics, and elevate IBTA to a rule of 60 company," he added.
尼德姆：“Ibotta提供了令人信服的增长和盈利能力组合”，这是由该公司转向 “整合到第三方出版商中的绩效网络”（纽约证券交易所代码：WMT）所推动的， 麦克特南 在启动说明中说。他补充说：“我们认为，这一转变将提高公司的绩效预算份额，改善其单位经济效益，并将IBTA提高到规则为60的公司。”
The analyst further stated that he expects Ibotta to "deepen its relationships with its core CPG advertisers, increase the number of its third-party redeemers at existing publishers, and boost the number of publishers on its platform, all of which would feed into its flywheel."
该分析师进一步表示，他预计Ibotta将 “深化与其核心CPG广告商的关系，增加现有出版商的第三方赎回者数量，并增加其平台上的出版商数量，所有这些都将为其提供动力。”
BofA Securities: Ibotta is the biggest US platform for digital rewards, connecting 2,400 brands to shoppers who earn cashback for purchases, Nagle said. He added that the company is among a beneficiary of sticky inflation and elevated interest rates.
美银证券：纳格尔说，Ibotta是美国最大的数字奖励平台，它将2400个品牌与通过购物获得现金返还的购物者联系起来。他补充说，该公司是粘性通货膨胀和高利率的受益者之一。
"We see significant revenue upside potential for Ibotta's growth engine, third-party rewards programs for retailers (3PP)," the analyst wrote. The company is likely to generate 20% revenue growth through 2026, "with nearly 70% EBITDA flow through," he further stated.
该分析师写道：“我们认为Ibotta的增长引擎，即零售商第三方奖励计划（3PP）具有巨大的收入上升潜力。”他进一步表示，到2026年，该公司可能实现20％的收入增长，“息税折旧摊销前利润流入将近70％”。
Goldman Sachs: "We view Ibotta as positively levered to several 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)," Sheridan said.
高盛：“我们认为Ibotta积极影响了我们行业中数字广告和杂货业的几个长期长期增长主题（这两个行业的支出从线下渠道转移到在线渠道），” 谢里登说。
While digital advertising is being impacted by the current macroeconomic environment, "the pace/cadence of 3P redeemer additions" and the impact of Ibotta's partnership with Walmart could be the "biggest potential drivers to upside/downside volatility in the coming year," he added.
他补充说，尽管数字广告受到当前宏观经济环境的影响，但 “增加3P赎回者的步伐/节奏” 以及Ibotta与沃尔玛合作的影响可能是 “来年上行/下行波动的最大潜在驱动力”。
JMP Securities: The Ibotta Performance Network is transforming the CPG promotion industry, Boone said. "Walmart accelerates Ibotta's Flywheel, while scale attracts more merchants and brand budgets," he added.
JMP证券：布恩说，Ibotta绩效网络正在改变CPG促销行业。他补充说：“沃尔玛加速了Ibotta的Flywheel的发展，而规模吸引了更多的商家和品牌预算。”
"Ibotta had 26% EBITDA margins in 2023 and with 85%+ gross profit margins, we think it can reach its long[1]term EBITDA margin target of 45%+ over time," the analyst further wrote.
该分析师进一步写道：“Ibotta在2023年的息税折旧摊销前利润率为26％，毛利率超过85％，我们认为它可以随着时间的推移达到45％以上的长期 [1] 期息税折旧摊销前利润率目标。”
IBTA Price Action: Shares of Ibotta risen by 2.24% to $104.50 at the time of publication on Monday.
IBTA价格走势：周一发布时，Ibotta的股价上涨了2.24％，至104.50美元。