"Cap" in "market cap" is short for "capitalization". The definition of "market cap" or "market capitalization" is the number of outstanding shares times the value of each share. That's it. As RonJohn says, there's no "analysis" involved. It's a trivial calculation: you multiply. It's not the "perceived worth", it's the actual, concrete worth. It's the exact dollar amount it would cost you to buy all the shares of the company (assuming that the price doesn't change).
Perhaps you're thinking that "cap" here means "limit", like, "We put a 5% cap on pay raises." If that's what you're thinking, then no, the fact that the abbreviation for "capitalization" happens to be spelled the same as a word meaning "limit" is just a coincidence. (Or maybe that's not what you're thinking at all and I just read that into your wording ...)
If a stock is trading at $10 per share and their are 1 million shares outstanding, then their market cap is $10 x 1 million = $10 million. If the share price goes up to $11 (and the number of shares remains the same) their market cap will become $11 x 1 million = $11 million. Etc. Figuring out what the market cap will be at various share prices is just a matter of multiplying.
I've never heard the term "potential market cap". Investors and analysts have all sorts of terms for all sorts of calculations they do so maybe it's a term that's out there. I suppose one could use such a phrase to mean "what the market capitalization of a company might be under such-and-such hypothetical circumstances". Like, "Right now Fwacbar Corporation has a market cap of $1 billion, but if they win this big government contract they're bidding on they're value could increase to $1.3 billion".
Any estimates of future market cap or share prices include some amount of speculation. If a company releases an innovative new product, their sales might boom as everyone rushes out to get the latest thing. Or it might be a total flop and they'll lose money. If you could come up with some formula or algorithm to determine what a company's share price will be next month, you could become a very rich man.