Market-Based Valuation of XYZ Corp

A financial analyst is evaluating a publicly traded company, XYZ Corp, which operates in the technology sector. The analyst aims to use a market-based valuation approach to determine the fair value of XYZ Corp's shares. She decides to look for comparable companies with similar business models and growth prospects.

While reviewing valuation multiples, she notices the following data:

• XYZ Corp has an EBITDA of $30 million.
• Comparable companies in the same sector have an average EV/EBITDA multiple of 12x.

Based on this information, what is the most appropriate market-based valuation for XYZ Corp?