Ask Matt: Did I miss my shot at Facebook?

Q: Did I miss my shot at Facebook?

A: Facebook (FB) is turning into the tech stock you want to own. Analysts think there’s still a chance to take part.

The social media giant further separated itself from other large-cap technology companies Wednesday after reporting better-than-expected quarterly results. The company’s adjusted profit of 77 cents a share in the first quarter was not only 24% higher than the Wall Street forecast, but up 83% from the same period a year ago. Shares jumped more than 7% Thursday as investors pushed the stock up to roughly $117 a share. The big jump in Facebook shares is putting the company’s valuation at levels that reflect its rising power and influence. Facebook is now worth $334 billion - putting it just behind Berkshire Hathaway (BRKA) as the sixth most valuable company in the Standard & Poor’s 500. But that brings a higher price tag for investors, too. Facebook is now trading for 72 times its earnings over the past 12 months - which is many times pricier than the market. Analysts think the higher price for Facebook is worth it. The company’s adjusted earnings are expected to jump 57% this year to $3.58 a share, says S&P Global Market Intelligence. Analysts think the stock could be worth $140.69 a share in 18 months.

USA TODAY markets reporter Matt Krantz answers a different reader question every weekday. To submit a question, e-mail Matt at mkrantz@usatoday.com or on Twitter @mattkrantz.