Facebook Inc (NASDAQ:FB) have faced significant weakness since the company’s last quarterly earnings report, and one analyst at Topeka Capital believes now is the time to buy.

facebook shares

Facebook Shares Struggling

Analyst Victor Anthony issued a report to investors today noting that shares of Facebook Inc (NASDAQ:FB) have been struggling for a number of reasons. There have been concerns that the number of teens using the site has declined and that advertisers are leaving the social network’s ad platform.

However, their checks and information from recent surveys seem to indicate that these concerns investors have been worried about aren’t as valid as it first appeared.

The Strength Of Facebook’s Ad Platform

According to Anthony, they have spoken with ad agencies and tracked Facebook Inc (NASDAQ:FB)’s newsfeed ads both in the U.S. and in Europe. He also pointed to recent surveys of the social media usage habits of teens and their own conversations with Facebook employees.

After all of that research, he raised his revenue and adjusted earnings per share estimates for the social network’s second quarter. His adjustments bring Topeka Capital’s estimates over consensus as he believes that Facebook Inc (NASDAQ:FB) will see stronger than expected ad growth during the second quarter. He also believes that difficult second half comps will be offset by Facebook’s video ads and greater ad monetization as the company works toward streamlining its ad offerings.

Anthony pushed the company’s adjusted earnings per share estimate for the second quarter up to 15 cents and its estimated revenue for the second quarter to $1.64 billion. He has a buy rating on the stock.

Other Recent Upgrades For Facebook

Shares of Facebook Inc (NASDAQ:FB) have gotten a boost lately as analysts from more than one firm have given them positive reports. JPMorgan and Stifel Nicolaus analysts both issued positive reports about Facebook last week, citing similar reasons for their review of the company and its stock.

As of this writing today, the Facebook Inc (NASDAQ:FB) stock had risen almost 2 percent.