Digital marketing company Ibotta (NASDAQ:IBTA) is now officially a publicly traded offering, hitting the Nasdaq Exchange during today’s session. Shares of IBTA stock were listed at $88 per share, though they have since climbed above $100 at the time of writing. This suggests this was yet another successful initial public offering (IPO) today (knock on wood).

There are still a few hours left in the trading day, but it’s clear investors are eager to gain exposure to the mobile rewards and rebates market, particularly with a company like Ibotta that counts Walmart (NYSE:WMT) and other major retailers as clients.

Investors also seem to like the company’s ties to the artificial intelligence (AI) space. Using an AI-infused offer engine, Ibotta is able to provide a linkage between consumer brands and their promotions with its 200 million customers on its network. This business has proved lucrative, with Ibotta bringing in $320 million in revenue last year and a positive net income of $38 million.

Here’s more on what investors are watching when it comes to this rather unique IPO.

Is Now the Time to Buy IBTA Stock?

Certainly, any company with strong ties to the AI space is going to grab plenty of investor attention. Ibotta’s AI technology is heavily integrated with its overall business model, which means that investors can pay for this company’s small but growing net earnings.

On the top line, Ibotta is showing a revenue growth rate above 50%. If efficiencies can be created and the more than $500 million raised from this IPO put to good use, it’s possible that top and bottom-line growth could accelerate together moving forward.

Ibotta’s impressive clientele list is another key factor I think investors are honing in on. A who’s who of brands call themselves Ibotta customers. And so long as the marketing and promotions game remains strong, a shift toward digital will continue to benefit companies like Ibotta in an outsized way.

I have to say, this is a company I haven’t dug into before, but it’s one I’m going to keep on the radar moving forward.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.