Social Media Stock Pops on Great Earnings ... But Great Earnings Should’ve Been Expected!Social media company LinkedIn (NYSE: LNKD) posted an incredible quarter and then traded higher by over 21% on Friday. The company posted an EPS of $0.35, which was $0.16 better than the consensus. The company also posted revenue of $303.6 million, representing a year-over-year (yoy) gain of 81% and $24.1 million better than the consensus.LinkedIn continues to prove that it has one of the most efficient business models in the social media space. The company grew its Talent Solutions (jobs) segment by 90% yoy, which contributes 53% of total sales. It also grew registered users by 15 million over the last quarter to over 200 million!When you look at LinkedIn’s quarter it is incredible by all measures, no doubt! However, it should be incredible -- this is a stock trading with price/sales of almost 16 and a forward P/E ratio over 70. The company is by far the most expensive of any social media company in the market, with a market cap of $16.2 billion. This means that each user is valued at more than $81.The market’s $81 per user valuation for LinkedIn is $17 more than Facebook and while Facebook has diversification, LinkedIn is primarily a jobs-based company. Therefore, I don’t see how much larger LinkedIn could become with a jobs-focused platform. And compared to other companies in technology, it would need $4 billion in sales just to be fairly valued on a price/sales basis. I don’t think it will ever reach these levels, therefore long-term, it’s a value trap, although it could go higher short-term.