16% Drop off the back of 8% YoY growth might be an overaction
I get that 8% YoY growth, when compared to the same period last year, isn't amazing, but considering they did this during a time when enterprise clients are cutting spending I think is still a pretty decent result.
As Steve pointed out, enterprise clients delivered an 18% QoQ increase, and the growth at the pointy end appears to be solid, achieving a 37% quarterly growth of clients delivering $100k TTM revenue.
16.54% drop brings the market cap close to $23billion or 4.4 EV/Revenue