J.P. Morgan, Morgan Stanley, Bank of America, Jefferies, Deutsche Bank, Evercore ISI and Mizuho hiked forecasts, while lone hold-out Barclays left its projection unchanged at $240, which already implies 17% upside from Wednesday's close.
Of the many line items lauded, analysts tended to highlight accelerating ad revenue growth thanks to increased use of Instagram's stories feature and an upswing in impressions.
Analysts also brushed aside caution from Facebook Chief Financial Officer David Wehner that tougher comparisons could result in revenue growth deceleration in upcoming quarters.
"Given the revenue acceleration and margin beat, our 2020 revenue and EPS estimates move higher by 3% and 2%, respectively, and our Target Price goes up to $230."
Here's what some of Wall Street's top Facebook analysts thought of its earnings report: