I have avoided trading FB because I don't have a strong grasp on where it's going. You could say the same for Wall Street analysts, as price targets vary greatly.
I have argued that the stock is overvalued since prior to the IPO. However, growth tech stocks can take off and double in a few months with little regard for the stock's intrinsic value, so I don't really have the stones to short it.
Presently, don't forget about the expiring lock up periods coming up. If you are looking to buy and hold, I would wait till after these. Short-term, I think we could get a pop. Earnings weren't down 12% bad.