Riverbed Technology -- great company but too extended?

Glancing through the Over-Valued Over-Bought Report at the Alert HQ Premium site I noticed that Riverbed Technology (RVBD) was on the list.

The following chart gives you an idea about the over-bought aspect:

In terms of over-valued, consider some of the measures by which we generally evaluate stocks at Trade-Radar:

PE is 242, roughly 8 to 10 times higher than most growth stocks
Price to Sales is 7.33 close to triple what we see in many tech stocks with good growth characteristics
PEG is 1.75, high even for a growth stock
Enterprise Value to EBITDA is over 67 which is 10 times what you might see in a value stock and at least 6 times what you might see in other good growth stocks

Granted, the company is executing extremely well. Riverbed just reported Q3 earnings of $0.34 versus $0.27 estimates. Revenue increased 17% sequentially to $148M vs $135M estimates. Nevertheless, it's hard to see how that justifies the valuation measures described above.

After today's drop of 3.35% perhaps investors are coming to the same conclusion.

Disclosure: no positions at time of writing

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