Valuation of XYZ Technologies Using Market-Based Techniques

XYZ Technologies is a publicly traded company in the cloud computing sector. It has achieved substantial growth over the last five years, with a compound annual growth rate (CAGR) in revenue of 25%. To assess its market-based valuation, analysts have identified three comparable companies (Comp A, Comp B, and Comp C) operating in similar sectors. These companies have price-to-earnings (P/E) ratios of 30, 28, and 32 respectively.

XYZ Technologies' projected earnings per share (EPS) for the next financial year is $2.00. The analysts are considering using the average P/E ratio of the comparable companies to value XYZ Technologies. However, another analyst suggests adjusting the selected P/E ratio to reflect XYZ Technologies' higher growth rate, proposing a P/E multiple of 35.

Based on this analysis, what would be the indicated market value per share for XYZ Technologies using the average P/E ratio of the comparable companies without any adjustments?