Analyst DowngradeThe analyst downgraded UDMY from a Buy rating to Neutral based on lower revenue projections and ongoing execution challenges.
Revenue GuidanceThe 2024 management revenue guidance was significantly reduced due to a challenging macro environment, softer marketplace conversions, tight enterprise customer budgets, and optimization of Udemy’s go-to-market organization.
Strategic ShiftRevised '24 guidance assumes further deceleration, reflecting the impact of the strategic shift.