Earnings ShortfallAdjusted EBITDA was 3% less than forecast, indicating a shortfall in expected earnings before interest, taxes, depreciation, and amortization.
Financial ForecastReducing fiscal 2025 EPS forecast: We are reducing our fiscal 2025 non-GAAP EPS forecast to $11.48 from $12.01.
Valuation ConcernsThe 12-month price target has been reduced to $54 from $70 due to a reduction in fiscal 2025 revenue, adjusted EBITDA, and non-GAAP EPS forecasts, reflecting slowing growth.