All businesses will trade at fair value at some point in time.With a strong base it will be difficult for any company to grow at 35% – 40% CAGR YoY . My mental model will be to calculate the projected EPS 4 years from now and apply a reasonable PE of 20 -22 times earnings and see where the price can head to. Unless I am convinced that there is enough headroom inspite of the stock trading at high valuations with my mental model I will restrain myself from investing. I always feel all stocks will trade at fair value at some point in time..
Page and Jockey as a brand is amazing but I am not sure whether an investor getting at this valuation will make higher risk adjusted returns
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