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A study by research firm eMarketer suggests that teens are abandoning Facebook Inc. (FB) - Get Meta Platforms Inc. Class A Report for hipper alternatives like Snapchat (SNAP) - Get Snap, Inc. Class A Report and Facebook-owned subsidiary Instagram, Recode reported Tuesday. 

The study shows that Facebook's user base among 12- to 17-year-olds will shrink by 3.4% in the U.S in 2017, the first time the firm has predicted a decline for Facebook in any age group. 

Additionally, eMarketer believes that Snapchat will have more 12- to 17-year-olds and 18- to 24-year-old categories by the end of the year for the first time. 

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Facebook shares were up 1% to $169.39 in midday trading Tuesday.

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