Not really. Look at Amazon's PE, keeping strong since years and much higher than Facebook's. If there is really a huge growth potential and a good track of growth for many years, a high PE can be justified. Of course, the future will tell us who was right...
Amazon is often brought up in PE discussions, but as far as FB is concerned it's apples and oranges when you compare the business inputs and outputs of each.
I can try. Amazon sells physical products, while Facebook sells eyeballs to advertisers. This is how both businesses are setup to make money, at least at the days of IPO. While with Amazon you use it because you want a product, with Facebook you do not want to be plastered with Ads, but you have no choice.
Amazon is a solid horse with no "kill me" obstacles on its way. Sure in 150 years you will have a machine a size of your fridge and you download blueprint from internet and the product is being 3d-printed for you, but since we not there just yet everyone needs products that Amazon offers and shift is towards selling stuff online. Mobile movement is to Amazon irrelevant while it may kill Facebook.
