I've always kind of been weary of slowing growth with this company. Revenue hasn't necessarily flatlined, but it has definitely slowed down to a mid single digit growth rate, likely due to elevated competition. Profitability has also slowed.
The one thing is, the market has largely reflected this. Although the company certainly isn't "cheap" yet, it is definitely cheaper than it was even 6 months ago.
The company has some stiff competition, and it's actually from major players in the space. Oracle, Microsoft etc. That is my main concern here. Fundamentally, the company is sound. Balance sheet is rock-solid, strong cash flow, great margins. I just worry about the overall monetization of their AI stack and relative competition from major players with a lot of cash to burn in terms of AI infrastructure.