Presented as a 'wildly profitable' value-oriented investment with nearly 50% operating margins and 21% YoY revenue growth. It is seen as a more transparent and potentially mispriced public alternative to Stripe.

The significant stock drop after earnings is viewed as a buying opportunity, as short-term concerns overlook strong long-term fundamentals, high profitability, and an 'attractive starting point' valuation.

Identified as the main public competitor and comparable company to Stripe, which is seen as a highly valuable private company with a strong network effect.

Rated a 'solid buy' with a price target of €2,278, based on exceptional margins, strong growth, a successful 'land and expand' strategy, and a technology advantage that justifies its premium valuation.