What are SaaS business doing now?

After the big correction that took place for the growth stocks, here is a status of their enterprise value to the next 12-month revenue (SaaS businesses are valued on a multiple of their revenue).

With their high margins and increasing revenues, they become the Street darlings… but they (maybe?) went too far if we judge by the past. Their evaluations are the biggest in the history of the market, even the…