Why Udemy Stock Crumbled by Almost 12% in April

Group 1 - Udemy experienced a significant stock price decline of nearly 12% in April, attributed to investor sentiment and external economic factors [1] - The company underwent a sudden CEO transition from Greg Brown to Hugo Sarrazin, which contributed to shareholder unease [2][6] - An analyst downgrade from Truist Securities reduced the price target for Udemy from $10 to$7, reflecting concerns about the company's positioning in a potential recession [4][6] Group 2 - The economic climate is causing fears of a recession, which typically leads consumers to cut back on non-discretionary spending, impacting Udemy's business model [5] - Despite reporting a more than tripled non-GAAP net income of nearly $17.9 million year over year, Udemy's revenue growth was only 2$200 million [8] - Current guidance for the second quarter and full year was in line with analyst expectations, but the overall sentiment remains cautious regarding Udemy's potential for significant growth [8][9]