Alan Abelson: "Facebook is overpriced" (2012)

Assuming profit margins stay around the same as they are currently, and assuming, too, that the P/E will match that sported by Google last we checked, according to Mark Hulbert's calculations, Facebook's shares should be changing hands at $16.66 each...  Anyway he looks at it, Facebook is overpriced.

~ Alan Abelson, Up & Down Wall Street column, Barron's, May 28, 2012

(Facebook closed at $31.91 on May 25, 16% below its IPO price of $38 set on May 17.)