NEW YORK (TheStreet) -- Shares of Facebook (FB) - Get Report were lower in late-afternoon trading on Monday as the social media company prepares to report 2016 third quarter results after Wednesday's market close.

Analysts surveyed by FactSet are looking for the Menlo Park, CA-based company to post adjusted earnings of 97 cents per share on revenue of $6.93 billion for the quarter.

During the same period last year, Facebook reported adjusted earnings of 57 cents per share on revenue of $4.50 billion.

MKM Partners said today that the company's results are likely to be strong.

The stock should see a boost if Facebook posts a solid beat to Wall Street's projections, the firm added.

"We expect strong advertising revenue growth to continue on higher engagement, new ad formats and video and we think the Instagram ramp still has legs well into 2017," MKM noted.

The firm has a "buy" rating and $165 price target on Facebook shares.

(Facebook is held on Jim Cramer's charitable trust portfolio Action Alerts PLUS. See all of Cramer's 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 rated this stock as a "buy" with a ratings score of A-.

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

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