Tech analysts never come up with a valuation based on historical...

Tech analysts never come up with a valuation based on historical revenue.
Yes, on historic numbers you get 31x, but on FY20 ev/sales LVT is actually trading at a discount to its peer group at around 7.5x, hence the $1.14 price target from Citi- yes there is a lot of water to flow under the bridge before those numbers are attained but the Citi bull case is $1.44 from memory.
The tech space in oz is under pressure and LVT is not immune from that, but they are growing at 130%pa, so i am a happy holder ( would be happier at 75c+ but im patient!)