Facebook (META -1.38%) shares are up more than 100% in the past 12 months. But after a nice boost recently from better than expected fourth-quarter results that pushed the stock to a new all-time high, is it time for Facebook shareholders to cash out? On the flipside, has the stock's gain erased any buying opportunity?

In the following video, Fool contributor Daniel Sparks and Motley Fool technology bureau chief Evan Niu discuss Facebook's most recent quarterly results and the stock's valuation. While the wild ascent of Facebook's stock in the past 12 months may be merited, Daniel explains, it doesn't mean there is automatically a buying opportunity today.

Facebook is an expensive stock -- there's no question. It trades at about 20.5 times sales. Compare that with Google at 6.5 times sales. Check out the video below to find out whether Daniel and Evan think Facebook is a buy, sell, or hold at a new all-time high.