Top Takeaways From Facebook's Investor Meetings

In a report published Friday, Oppenheimer analyst Jason Helfstein maintained an Outperform rating on Facebook Inc FB.

According to the Oppenheimer report, one of the key takeaways from the company's latest investor meeting was that the primary driver of mobile engagement has been sharing among the users. The company has also been witnessing increased ad demand, driven by improvements in ad relevance and audience targeting.

"Newsfeed is still the most effective ad product by traditional metrics. Video ads and Conversion Lift products are still in the early stages of testing. Video ads are driving more media advertisers," Helfstein said.

Facebook's Instant Articles initiative aims to boost engagement via faster loading of monetizable content. "FB is agnostic between self-service ads vs. third-party marketing partners," the Oppenheimer report says, with only 5 percent of the active pages seeing paid traffic. The "Carousel" ads on Instagram are the company's first attempt at creating more engaging ads for brand advertisers.

"FB is not looking to disrupt the payments model with Messenger, but to enhance the transaction experience. Messenger is closer to monetizing than WhatsApp," Helfstein added.