Facebook Inc (NASDAQ:FB) sent out invitations earlier this week for the media to come to an event today, and the headline was, “Come See Our New Home On Android.” While there’s been speculation that Facebook Inc (NASDAQ:FB) would attempt to get into the smartphone industry again, analysts at one firm think it isn’t a phone at all. They’re predicting software instead of a full-fledged phone.

Facebook Phone

Analysts at Deutsche Bank AG (DB) issued a report to investors today saying that an “Android launcher could have potential.” They said Facebook Inc (NASDAQ:FB) could actually be working on a social application software layer, which would simply turn any Android handset into a socialized phone.

Instagram would be linked to the phone’s camera, and Facebook Messenger would be linked to the phone’s text messaging system. Facebook contacts would even be linked to the phone’s address book.

Rather than replacing Android and reinventing the operating system, Facebook Inc (NASDAQ:FB) could simply be providing a “launcher app which sits on top of the existing OS.” The analysts said in order for the software to succeed, Facebook must be able to distribute it successfully.

They reference a leaked code indicating that the program will be available for “several Android handsets.” They also said that if Facebook can convince enough of its 700 million mobile users to download the software, then it could see higher engagement and improved sentiment.

Deutsche Bank AG (ETR:DBK) (FRA:DBK) (NYSE:DB) analysts also said their checks on how Facebook’s finances are doing “point to a slightly better than consensus revenue” for this year’s first quarter. They believe this will offer a catalyst to the stock because sentiment surrounding it has been rather negative since the company released its fourth quarter results.

They’re looking for the company to report $1.265 billion in ad revenue, including $329 million from mobile. They’ve kept their Buy rating and $37 per share price target on shares of Facebook Inc (NASDAQ:FB).

Shares of Facebook Inc (NASDAQ:FB) rose 1.5 percent in pre-market trading and another 1.6 percent after the markets opened and ahead of today’s scheduled event.