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Facebook topped quarterly expectations on most key metrics Wednesday, and CNBC "Fast Money" traders believe the results will give its stock enough leverage to keep inching higher.
The social media giant topped analysts' estimates for earnings, revenue and monthly active users. Still, its shares traded down about 5 percent in extended hours and lingered in negative territory despite paring some losses.
Though the stock sat around $94 per share in the after-hours session, traders contended that it will not stay there long.
"I think it's going to blast through $100," said trader Brian Kelly.
Traders Dan Nathan and Guy Adami agreed that it would break that level. Adami said he was impressed with Facebook's 55 percent operating margin.
Twitter shares were pummeled on Wednesday, falling more than 14 percent a day after executives warned that user growth may stay sluggish for the foreseeable future. The social media company posted earnings and revenue that topped estimates Tuesday, but fell short of projections for monthly active user growth.
Still, Twitter is a young company with a "unique" platform, said trader Tim Seymour.
"If nothing else, someone is a lot closer to buying them," he said.
Professional social network LinkedIn reports quarterly earnings on Thursday. Its shares closed Wednesday 1.5 percent higher at $232.
Adami contended that it could rise to $250 per share after earnings.
"I think you stay with this one," Seymour added.
Tim Seymour is long AAPL, T, BAC, DIS, F, GE, GM, GOOGL, INTC, JPM, SUNE, Tim's firm is long BABA, BIDU, MCD, NKE, NOK, SBUX, YHOO.
Dan is long QQQ sept put, CMG July weekly put spread, JOY sept calls, TWTR, TWTR sept call spreads, SO, BA sept put spread, COST Aug put spread, TJX aug put , PG july weekly put, SLB aug 28th put spread.
Brian Kelly is long BBRY, BTC=; ITB, TAN, TLT, TSL, US dollar; he is short Oil, Ruble, Yuan and Yen.
Guy Adami is long CELG, EXAS, INTC, Guy Adami's wife, Linda Snow, works at Merck.