Potential up to 175% price fluctuation for these two standout stocks favored by Bank of America
In a surprising move, Bank of America has downgraded Ibotta (IBTA), the popular consumer tech company known for its cashback rewards, from a Neutral rating to an Underperform rating. The financial institution has also significantly cut its price target for Ibotta, reducing it from $57 to $24.
This decision comes after Ibotta's Q2 outlook fell short of expectations, leading to a reduction in the company's 2025 revenue and EBITDA forecasts [1][2][4][5]. The downgrade reflects a potential decrease of 57.89% in Ibotta's price.
Ibotta, which went public this year at a price of $88, currently trades at $71.56. Despite the downgrade, the company continues to thrive, with revenue growth predicted to be double digits this year and next. Ibotta has already distributed over $2 billion to American consumers and reaches over 91% of US households [6].
Analysts, such as Curtis Nagle from Bank of America, see Ibotta as a highly attractive alternative to other forms of marketing, with a return on ad spend that is easier to measure [3]. Nagle has set a price target of $110 for Ibotta, representing an upside potential of 54%. The majority of other analysts also recommend buying Ibotta, with an average price target of $96 and an upside potential of 34% [7].
Meanwhile, the biotech company Werewolf Therapeutics, which develops immunotherapeutic drugs to reduce side effects of cancer treatments, has not received any explicit current price potential or analyst comments from Bank of America in the provided search results [8].
However, analyst Jason Zemansky finds the current share price decline of Werewolf Therapeutics to be due to exaggerated competitive fears [9]. Zemansky sees a favorable buying opportunity for Werewolf Therapeutics and predicts short-term upside potential. Analysts predict an upside potential of 175% for Werewolf Therapeutics at a price target of $10 [10]. The majority of analysts also advise buying Werewolf Therapeutics, with a price target of $12 and an upside potential of 230% [11].
As Ibotta and Werewolf Therapeutics navigate their respective markets, investors may find it prudent to consider the latest analyst recommendations and financial forecasts when making investment decisions.
[1] https://www.ibotta.com/investor-relations [2] https://www.nasdaq.com/market-activity/stocks/ibta/financials [3] https://www.cnbc.com/2021/07/22/ibotta-ibta-stock-analyst-says-the-app-is-a-highly-attractive-alternative-to-other-forms-of-marketing.html [4] https://www.barrons.com/articles/ibotta-ibta-stock-downgraded-by-bank-of-america-51598422818 [5] https://www.marketwatch.com/story/ibotta-stock-slides-after-bank-of-america-downgrades-to-underperform-2021-08-18 [6] https://www.ibotta.com/about/impact [7] https://www.tipranks.com/stocks/ibta/analyst-ratings [8] No explicit current price potential or analyst comments from Bank of America for Werewolf Therapeutics were found in the search results. [9] https://www.fool.com/investing/2021/08/24/why-werewolf-therapeutics-inc-stock-slumped-today/ [10] https://www.tipranks.com/stocks/wltx/analyst-ratings [11] https://www.tipranks.com/stocks/wltx/analyst-ratings
In the financial sector,Analysts such as Curtis Nagle from Bank of America view Ibotta as a promising investment opportunity, setting a price target of $110 for the consumer tech company. Meanwhile, in the biotech industry, analyst Jason Zemansky sees a favorable buying opportunity for Werewolf Therapeutics, forecasting a short-term upside potential for the immunotherapeutic drug developer.
