An employee works at the Amazon Fulfillment Center on August 1, 2017 in Robbinsville, New Jersey.

The FANG stocks' earnings season started off strong as Netflix crushed subscriber expectations Monday. One analyst is optimistic the other internet giants in the famed technology basket will also report strong earnings results next week.



Netflix shares surged 15 percent in the two days following the stunning results.

"We expect its FANG brethren to continue the 'beat and raise' party next week by delivering stronger than expected earnings/2018 guidance," Daniel Ives, GBH Insights' head of technology research, wrote in a note to clients Thursday. "Overall, we continue to be very bullish on secular tech themes for 2018 around streaming/content, e-commerce growth, online ad growth, and the transformational cloud shift among enterprises."

FANG stocks are a basket of high-growth technology stocks — Facebook, Amazon, Netflix and Alphabet (formerly known as Google).

Ives reaffirmed his "highly attractive" ratings for Amazon, Alphabet and Facebook.

1) Amazon (AMZN)

The analyst raised his price target for Amazon shares to $1,500 from $1,375, representing 10.5 percent upside to Wednesday's close.

"We expect strength from Amazon across the board this quarter as our analysis indicates a better than performance on the North America retail channel as well on the AWS front … Amazon has a unique window of opportunity to double down on its consumer and enterprise initiatives for 2018 and drive significant growth/cash flow for the coming years as Bezos & Co. further diversifies the Amazon franchise globally."

Amazon will report its fourth-quarter earnings results on Feb. 1.

2) Alphabet (GOOGL)

Ives increased his forecast for Alphabet shares to $1,280 from $1,190, representing 9 percent upside to Wednesday's close.

"Our mobile search analysis/tracker this quarter continue to show strength from Google around its bread and butter search business, which should be a catalyst for modestly better than expected top and bottom-line results in 4Q as ad growth was the 'star of the show' this quarter. We are also seeing accelerating ad momentum from search and YouTube yet again this quarter and heading into 2018 despite noise in the market."

Alphabet will report its fourth-quarter earnings results on Feb. 1.

3) Facebook (FB)

The analyst reiterated his $225 price target for Facebook shares, representing 21 percent upside to Wednesday's close.

"Facebook is on a trajectory to have another solid quarter in 4Q on the MAU front and has strong momentum heading into 2018 on this all-important growth driver for the business, despite lingering clouds from the recent News Feed overhaul."

Facebook will report fourth-quarter earnings results on Jan. 31.