Around 20x FY15 forecasts, so $2.30 unless there is an upgrade...

Around 20x FY15 forecasts, so $2.30 unless there is an upgrade or acquisition announced which would have me re-assess. I'm astounded it traded at $4 a few months ago. The hype just got out of hand.
The valuation premium was already shrinking prior to the interim but it did nothing to stop the trend. Sure, they re-affirmed forecasts but revenue growth was a bit lower than the market expected and the hoped for upgrade doesn't look as likely now. And that impacts what the market is now assessing as likely growth for FY16. They really need an accretive acquisition so the market can see where the 25% EPS growth will come from in FY16 and FY17