Apr. 26 at 3:08 PM
SaaS isnât âovervaluedâ â itâs mispriced dispersion.
Quick scan using forward P/E vs NTM growth:
$PLTR â ~62% growth, ~110x P/E = high growth, justified premium narrative (AI tailwinds)
$NET â ~29% growth, ~185x P/E = extreme premium, expectations are sky-high
$CRWD / DOCN â low-20s growth, ~90â100x = rich for decelerating names
Then the interesting part:
$SNOW / SHOP still holding premium multiples â market paying for durability + platform dominance
But look under the hood:
APP / ZETA â faster growth, lower multiples = potential re-rating candidates if sentiment flips
Bottom line: this tape isnât about cheap vs expensive â itâs about who deserves the multiple.
AI narrative, margins, and positioning are driving flows. Mispricing = opportunity.