It was a mixed 2016 for FANG stocks -- Facebook (FB) , Amazon (AMZN) , Netflix (NFLX) , and Google (listed under parent company Alphabet (GOOG) ), as well as Apple (AAPL) . 

The most recent round of earnings reports suggests more of the same, although investors should largely feel optimistic about these stocks. 

Facebook

Facebook shattered Wall Street's expectations on Wednesday by reporting a 51% year-over-year rise in revenue. Whereas analysts had expected revenue of $8.5 billion, the social media company registered $8.8 billion for the fourth quarter. Earnings were $1.41 a share, a 78% year-over-year gain and above the consensus estimate of $1.31 a share.

After the company released its results, shares of Facebook flew to an all-time high near $135 per share. Analysts are calling for the company's stock to hit as high as $175 per share. That would represent a nearly 35% gain from Thursday's share price.

Facebook is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. See how Cramer rates the stock here. Want to be alerted before Cramer buys or sells FB? Learn more now.

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