What happened It's IPO day plus one for Roblox Corporation (NYSE: RBLX), the red-hot gaming hub that's entertained our kids all through the pandemic. Yesterday, as you've probably heard, Roblox debuted on the NYSE after noon, shooting straight from its $45 "reference price" to begin trading at $64.50, ultimately closing the day up 7.7% at $69.50. This morning, the momentum continued, and Roblox is up another 5.3% as of 10 a.m. EST. Image source: Roblox Corporation. So what Roblox's astonishingly good performance yesterday wasn't actually a huge surprise. Although the NYSE had set a reference price of $45 on the shares, based on their last-known cost in a private transaction, early indications on TheFly.com from bids coming in suggested the stock would begin trading much higher. As early as 10:30 a.m., in fact -- three hours before the first trade was executed -- TheFly pegged the stock as "indicated to open at $60-$65" a share. Still, as the shares wobble from higher to merely high on their first full day of trading, investors are clearly playing it by ear, uncertain how much they should be paying for a share of Roblox. This is the nature of direct-listing IPOs. Now what Now here's something that might help you decide what that "right price" really should be. A first read on the stock from data provider S&P Global Market Intelligence shows Roblox with 550.5 million shares outstanding and a market capitalization of $38.3 billion. The company is GAAP unprofitable, so you can't value the stock on P/E. You can, however, value it on its $924 million in trailing sales: Roblox costs 41.4 times sales, which sounds like a lot. You can also value Roblox stock on its tremendous free cash flow of $420 million generated over the last 12 months -- and by that measure, Roblox seems less expensive at 91.2 times free cash flow. Whether that's still too expensive for your taste is a decision only you can make -- but at least now you have the numbers you need to make the decision. 10 stocks we like better than Roblox CorporationWhen 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 Roblox Corporation 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 February 24, 2021 Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source