LinkedIn’s public debut, absolutely amazing!

Today, shares on LinkedIn (LNKD) began trading on the NYSE, marking LinkedIn’s debut as a publicly-held company.

I just looked at LinkedIn’s stock price and saw that LinkedIn was trading at around $108.00 per share!

An incredibly stunning debut!

At that price, LinkedIn’s valuation (market cap) is (around) $10.3 billion! (figures are “per” Google Finance).

LinkedIn’s Sales Revenues, full-year 2010, $ 243 million

LinkedIn’s Earnings, full-year 2010, $ 15.4 million

Wow, that’s a market-cap valuation of 42.4x Sales!

(Market-cap divided by trailing full-year annual sales)

I just compared that number to Google’s number:

At Google’s current share price, $532.00, Google’s current market-cap is “only” $171.5 billion.

That’s a valuation of “only” 5.85x Sales.

Google’s Sales Revenues, full-year 2010, $ 29.3 billion

Google’s Earnings, full-year 2010, $ 8.5 billion

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Did I do this math correctly?

Will LinkedIn’s shares continue to rise from here?

Or, will LinkedIn’s shares decline to reflect a more “modest” valuation?