$CMRC presented a long-term model at its analyst day, projecting mid to high teens ARR growth and gross margins in the high 70s to low 80s within 3-5 years. If this guidance proves accurate, the stock could be significantly undervalued, with potential price targets ranging from $10 (2x ARR) to $15-$25 (3x-5x growth). Investors should consider this overlooked guidance for potential upside.