This is a pure growth story coupled with a thesis for peaking and declining interest rates.  Estimates place SHOPs CAGR over the next 10 years at 30%.  This makes them highly sensitive to interest rates, forward guidance, and trajectory.  We have made over 100% on this name buying in at the lows last year and will keep a close eye on the guidance.  To support the current valuation it has to live up to the growth forecasts AND interest rates need to at least stay where they are.