The latest data from comScore shows that engagement at Facebook Inc (NASDAQ:FB) remains solid, suggesting that worries about it are overblown. After reviewing the data, JPMorgan analysts Doug Anmuth, Kaizad Gotla, Bo Nam and Diana R Kluger issued a report reiterating their Overweight rating and $53 per share price target on Facebook.

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Facebook engagement remain a concern

They note that although worries about engagement have been somewhat eased since Facebook Inc (NASDAQ:FB) released its second quarter earnings and confirmed that users are spending an increasing amount of time on its site. However, they said some are still concerned about engagement particularly because of signs about declining engagement on desktop computers. Some are worried about declining desktop engagement, while others are concerned that competing services will steal engagement time from Facebook.

The JPMorgan analysts continue to believe though, that the increases in mobile engagement are offsetting the declines in desktop engagement and that competing social networking services are having just a “modest impact” on Facebook.

Analyzing the latest data from comScore

In August, Facebook Inc (NASDAQ:FB) saw its share of total U.S. minutes increase to 141 billion, a 33 percent year over year increase. That’s compared to a 22 percent increase year over year in July and a 26 percent increase year over year in June.

The data also shows that over the last year, Facebook’s share of total minutes across both mobile and desktop (excluding tablets), climbed from 13.9 percent to 16.3 percent. During that same period, competing services like Twitter, Instagram, WhatsApp, Snapchat and even Facebook’s own Instagram saw their share of total Internet minutes from 1.6 percent to 2.3 percent.

Data on Facebook’s mobile usage

comScore showed that desktop minutes per unique visitor fell slightly from 403 minutes last August to 399 this August. However, mobile minutes per unique visitor rose from 521 to 933 over the same time frame. The data did show that both desktop and mobile minutes increased month over month in August.

The analysts at JPMorgan note that at this point, Facebook Inc (NASDAQ:FB)’s mobile usage share is still four times that of competing services combined.

Shares of Facebook rose 2 percent in afternoon trading.

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