The company has $5 cash per share.
Earned $1 last year. So P/E is about 48, not 100.
Forward P/E is about 38, for the company said the growth could be up to 28%.
I think we basically agree on the forward P/E. You get a forward P/E of 37 based on your 28% revenue growth assumption. I get a forward P/E of 44 based on an average of analyst's expectations. Those numbers aren't that different. The main thing we disagree on is what a reasonable number for forward P/E should be. I think the industry average of 24.6 is about right, you think a P/E of 56 is where it should be headed. Even if I assume that the 28% growth rate is sustainable, that would only give a forward P/E of 31 as reasonable. I like cloud computing and see it as the way of the future, but it just seems like this stock has run up too much already on that hype and needs a 20% correction to bring it in line.