BUZZ-Ibotta shares surge as fourth-quarter revenue forecast exceeds market expectations

November 3 - ** Digital promotion and cashback platform Ibotta (IBTA.N) saw its share price surge by 30% to $65.2, reaching the highest level since February 2025

** According to data compiled by London Stock Exchange Group (LSEG), the Walmart-backed company expects (link) fourth-quarter revenue to be between $94 million and $98 million, generally above analysts’ estimate of $94.86 million

** Reported adjusted EBITDA for the third quarter was $23.8 million, higher than analysts’ estimate of $13.5 million

** Third-quarter revenue was $97.8 million, exceeding analysts’ forecast of $88.68 million

** CEO Bryan Leach stated that third-quarter results benefited from increases in advertiser-funded cashback and promotional offers

** Of nine brokerages, one rates the stock “buy,” six “hold,” and two “sell”; the median target price is $38 — LSEG data

** Including intraday fluctuations, IBTA shares have almost tripled in value so far this year

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