Ibotta downgraded to In Line from Outperform at Evercore ISI

Evercore ISI downgraded Ibotta (IBTA) to In Line from Outperform with a price target of $38, down from $65. The firm cites the company having missed on revenue and EBITDA, with the management also citing disruptions from its sales reorganization and slower scaling of new performance marketing clients as key headwinds, the analyst tells investors in a research note.