Dec. 21 at 1:33 PM
My assumptions give
$PATH $2.44B in revenue in FY28.
That's 15% revs growth in FY26, 22% in FY27, and 27% in FY28 - completely reasonable if Maestro kicks off.
$2.44B in revs & 15x NTM multiple (midpoint between peers like
$NOW and
$SNOW today) gives you an EV of
$37.9B.
Add in net cash of
$2B and you have almost
$40B equity value which would translate to ~
$75-
$80 share price dependent on share dilution.
400% potential increase in 2-3 years.
Bullish, but not unrealistic in my opinion.
