1538 ET - Raymond James downgrades Ibotta to market perform from outperform after the digital marketing company's quarterly results and outlook were hurt by issues including insufficient offer supply from consumer packaged goods providers. "The company pointed to some green shoots that are popping up (new measurement platform showing promise among a couple select clients), but we see the proving-out period likely to take quarters," Raymond James says. "This marks the fourth quarterly miss (either in current-period results or outlook, in this case both) for Ibotta out of four since its IPO in April 2024," the firm says. Citigroup also downgrades Ibotta. Ibotta drops 45% to $35.05, set to close at an all-time low. (josh.beckerman@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 15:38 ET (20:38 GMT)
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