The Wall Street Journal reported Forrester Research surveyed 4,517 teenagers between the ages of 12 and 17 about their social media use, and nearly half of the respondents said they used Facebook more than they did one year ago. Forrester also predicted that more smartphone usage would increase teenagers' Facebook usage. Facebook's mobile app is one of the most popular in the world.
"As today's 12- and 13-year-olds grow into 16- and 17-year-olds, it's likely their Facebook adoption will increase further," Forrester said.
Facebook did not commission the research report, which was done by Nate Elliott and Gina Fleming. Elliott has criticized Facebook's advertising product in the past, but he was bullish on the company's future in Tuesday's report.
The stock was up 2.49% to $67 at 11:03 a.m.
Separately, TheStreet Ratings team rates FACEBOOK INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FACEBOOK INC (FB) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. 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 and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation."