Historical cheapness: current PE is 34.2× versus the full-history median of 38.6× shown in the valuation table, producing 58.3/100. Positive weekly observations receive equal weight; lower past EPS alone does not disqualify them.

Outlook-adjusted valuation: 61/100. The model applies a 17% earnings-growth assumption and a 10% annual return hurdle, with positive credit limited by evidence coverage and confidence.

Forward price scenarios use recent PE history separately. Recent history has a separately weighted median of 42.4× (18-month half-life). The favorable scenario uses 41× PE and $5.7 projected EPS, informed by growth, margins and earnings-quality checks. This is a model scenario, not an analyst target. A return to the full-history median is not assumed.

Business trends are strong. Over the past year: revenue +90.8%, earnings +160.7%, operating margin +17.8 percentage points. Free cash flow is -92.2% of revenue. The business score is 72.5/100. Growth, margins and cash generation drive the score. Missing or older data receives less weight.

Stronger earnings and valuation could support a higher share price.

Our favorable case uses $5.72 of EPS and a 41× PE, suggesting a share price of about $234.55. Valuation history and outlook inform the PE.

The displayed favorable scenario is 52.2% upside, or about $234.57.

This is a scenario based on our model, not a forecast or probability.

Weaker than expected earnings could put pressure on the share price.

Our downside case uses $3.81 of EPS and a 30.1× PE, suggesting a share price of about $114.66 — 26% below today’s price. Valuation history and outlook inform the PE.

This is a scenario based on our model, not a forecast or probability.