It all depends on how much you trust the analysts currently. As we know, they are generally behind the curve in a big way. They are in the process of adjusting the 3 to 5 year projected. Looks like it's actually up a bit today.....now at 22.69. They will change around for a bit as analysts look at the CC.
My general belief: Take any long term growth rate over 20% with a grain of salt. Discount it by 40% to get a better picture. I've overpaid in the past when looking at peg ratios,etc. You are almost better with just raw ttm p/e. I don't pay over 30 ttm p/e for anything.
This is now a few days old but here is how I broke it down:
Analysts currently have the 3 to 5 year projected at 22.62%. First of all, this is too high. The real growth rate is closer to 14% going forward. I use my own method for assessing longer term growth rates.
Using analysts 3 to 5 yr growth rate of 22.62%. I get a future p/e of 30.79 x 2.58(next yrs eps)= 79.45. This is the FULLY valued price.
Using my growth of 14%. I get a future p/e of 21.39% x 2.58= 55.19 This is the FULLY valued price.
I like to buy at a 2/3rds discount to full value. Using my numbers I get .6667 x 55.19 = 36.79.
Buy at 36.79 or lower. This is subject to analysts changing their numbers over time. Always a moving target.