NEW YORK (TheStreet) -- Shares of Facebook (FB) - Get Report are gaining 0.86% to $121.64 in early-afternoon trading, as the company reported 1 billion users on its Messenger app. 

The messaging app is the company's third product to hit 1 billion active users, along with the main Facebook social media platform and its other messaging app WhatsApp, USA Todayreports. In 2016 alone, 200 million users have joined Messenger. 

Facebook disclosed that billions of messages are sent each day on the Messenger app. 

Hitting this milestone "is a bit like hitting the lottery," Rob Enderle, technology analyst at Enderle, told USA Today. "The odds really aren't in your favor."

Instant messaging between users was once part of the main Facebook app until August 2011 when Facebook made the separate app Messenger for the service. 

Facebook is a Menlo Park, CA-based social media networking company. 

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

Separately, 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 articles's author. TheStreet Ratings has this to say about the recommendation:

We rate FACEBOOK INC as a Buy with a ratings score of B+. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, 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. We feel its strengths 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

Image placeholder title

FB

data by

YCharts