NEW YORK (TheStreet) -- Shares of Facebook (FB) - Get Report are gaining 3.95% to $128.21 in pre-market trading on Thursday after reporting 2016 second-quarter earnings and revenue that topped analysts' expectations after yesterday's market close. 

The social network's monthly active users increased by 220 million in the past year to 1.71 billion total users, with more than 90% of them on mobile devices. Mobile advertising revenue accounted for 84% of Facebook's $6.2 billion in advertising sales during the most recent period. 

Most analysts struck a positive tone following the results. Wedbush hiked its price target to $162 from $145 per share, while Stifel lifted its price target to $155 from $145 per share, Piper Jaffray increased its price target to $185 per share from $170 and Morgan Stanley boosted its price target to $150 from $140 per share. All four firms maintained the equivalent of "buy" ratings on shares.

Monness, Crespi, Hardt & Co. alone downgraded the stock, to "neutral" from "buy," MarketWatch reports.

The firm encouraged investors to take some profits following the stock's 18% run so far this year.

"Despite the dominance of the platform, favorable secular trends, and emerging opportunities in new digital categories, we see diminishing upside to revenue prospects during our projection horizon," the firm wrote in a note.

Monness, Crespi, Hardt & Co. has a $123.34 price target on the stock. 

(Facebook is held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holdings with afree trial.)

Separately, TheStreet Ratings team rate the stock as a "buy" with a ratings score of B+.

Facebook's strengths such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.

You can view the full analysis from the report here: FB

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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