Market UncertaintyThe Neocloud opportunity is less clear and there is a need to gain more conviction in the pace at which disrupting these markets could potentially take place.
Product Growth ChallengesProduct growth has yet to re-accelerate, and hyperscaler deals have yet to catalyze estimates, while investments and competitive dynamics create margin risk.
Valuation PressureShares are trading at a high premium, which increases the pressure to penetrate neoclouds and hyperscalers.