A study by research firm eMarketer suggests that teens are abandoning Facebook Inc. (FB) for hipper alternatives like Snapchat (SNAP) 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. 

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

More of What's Trending on TheStreet:

More from Stocks

Cramer: Amazon Will Be an 'Outsized Winner' When Consumer Trends Shift Online

Cramer: Amazon Will Be an 'Outsized Winner' When Consumer Trends Shift Online

EBay Stock Tumbles 8.9% to Hit Lowest Level in Nearly 2 Years

EBay Stock Tumbles 8.9% to Hit Lowest Level in Nearly 2 Years

Disney Is One of Jim Cramer's 10 Best Stocks for a Market Pullback

Disney Is One of Jim Cramer's 10 Best Stocks for a Market Pullback

Your Need to Know - Forward Look

Your Need to Know - Forward Look

How E-Mini S&P 500 Revolutionized Equity, Electronic Trading

How E-Mini S&P 500 Revolutionized Equity, Electronic Trading