It's up because of the huge deferred revenue number that was driven by subs. Subscription based companies are not valued on revs and earnings because much of what they sell they can't recognize immediately and goes into deferred revenue. So cash flow is a better way to look at it.
Net income was $83 million, so if you annualize that the stock is trading at 70x. But free cash flow was $170 million, so annualized it's trading at 35x. Still not cheap, but not as ridiculous as 70x.