What happened Shares of Boston Beer (NYSE: SAM) fell as much as 10.3% in trading on Thursday after the company reported fourth-quarter 2020 results. Shares ended the day down 7.8%. So what Revenue was up an impressive 53.5% to $460.9 million and net income jumped 135.7% to $32.8 million, or $2.64 per share. Analysts were only expecting $453.2 million in revenue and earnings of $2.62 per share, so results easily topped that bar. Image source: Getty Images. For the full year, revenue was up 38.9% to $1.74 billion and earnings per share were $15.53. But it's when we get to outlook that investors were a little disappointed. Management expects depletions to grow between 35% and 45% with earnings of $20 to $24 per share. Analysts were expecting earnings of $22.71 per share and revenue growth of 37%. Outlook wasn't out of line with those expectations, but when a stock trades for 46 times the high end of forward earnings estimates, it's not surprising to see expectations at a peak. Now what Taking a step back, there's a lot to like about Boston Beer's results. The company is growing like crazy and its brands are clearly meeting the market's needs for both beer and hard seltzer. With growth expected to continue in 2021, this is a company built to do well long term. But its valuation is very rich, and that's something the market is taking a harder look at today. 10 stocks we like better than Boston BeerWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Boston Beer wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Travis Hoium has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Boston Beer. The Motley Fool has a disclosure policy.Source