Get a clue - analyst estimates are non-GAAP - i.e. they exclude stock based comp expense, so the $0.25 non-GAAP number actually beat by a penny. Since the stock has been knocked down about 25% since they pre-announced, I think it is due for a little rebound, especially since Q3's estimate is roughly in-line and the share buyback program has been expanded.
To clarify, the stock is down about 25% from their weak Q1 earnings release in late April (it got knocked down to ~$25 at that time) - in the Q1 earnings release they provided guidance for Q2 on billings, revenue and EPS. Earlier in July they pre-announced that billings would be a few million short of expectations, but revenue and EPS would be on target, which they just confirmed. Either way, while revenue growth will slow from the 20+% they have been delivering, there is plenty of cash ($7 per share) and future cash flow to support a $20+ share price.
Well now all that sounds good but you're missing one real world in the investment community mindset...GROWTH. We'll see how the street views the companies presentation on Q2 and forward looking guidance.