Ibotta, Inc. (NYSE:IBTA) reported a year-over-year decrease in second-quarter adjusted EPS results and issued third-quarter revenue guidance below estimates on Tuesday.
Ibotta reported quarterly earnings of 68 cents per share, down from 69 cents per share in the year-ago period. The company reported quarterly sales of $87.93 million which beat the analyst consensus estimate of $85.73 million.
Ibotta said it sees third-quarter revenue of $91 million to $96 million, versus estimates of $98.65 million.
Ibotta shares dipped 24.6% to $43.88 on Wednesday.
These analysts made changes to their price targets on IBTA following earnings announcement.
- B of A Securities analyst Curtis Nagle maintained Ibotta with a Buy and lowered the price target from $118 to $110.
- Evercore ISI Group analyst Mark Mahaney maintained the stock with an Outperform, while cutting the price target from $125 to $114.
- Wells Fargo analyst Ken Gawrelski maintained Ibotta with an Overweight and slashed the price target from $105 to $85.
- Citigroup analyst Ronald Josey maintained the stock with a Buy and lowered the price target from $125 to $95.
- Goldman Sachs analyst Eric Sheridan maintained the stock with a Neutral and lowered the price target from $103 to $87.
- Raymond James analyst Andrew Marok maintained the stock with an Outperform and cut the price target from $90 to $75.
- JMP Securities analyst Andrew Boone maintained Ibotta with a Market Outperform, while lowering the price target from $130 to $111.
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