Ibotta Analysts Slash Their Forecasts After Q2 Results
Portfolio Pulse from Avi Kapoor
Ibotta, Inc. (NYSE:IBTA) reported a year-over-year decrease in Q2 adjusted EPS and issued Q3 revenue guidance below estimates. Despite beating Q2 sales estimates, shares dipped 24.6%. Multiple analysts lowered their price targets while maintaining their ratings.
August 14, 2024 | 7:05 pm
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Ibotta reported a slight decrease in Q2 EPS and issued Q3 revenue guidance below estimates, leading to a 24.6% drop in share price. Analysts lowered their price targets but maintained their ratings.
The decrease in Q2 EPS and lower-than-expected Q3 revenue guidance negatively impacted investor sentiment, causing a significant drop in share price. Analysts' lowered price targets further indicate a cautious outlook.
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