Customer BaseMomentum in Enterprise & early AI solutions are not enough to offset increasing pressure at low-end customers, driving deceleration in ARR growth & NRR.
EarningsNarrower beats and limited upside in the last two earnings prints drove our questioning if there is a 'leak in the bucket' offsetting momentum in the Enterprise SEO product.
Stock RatingThe stock rating has been downgraded from overweight to equal-weight, indicating a less favorable outlook.