Facebook Inc NASDAQ:FB showed a slight decline in share of overall internet time in August, but the social network is holding steady at a 20% share of mobile minutes. JPMorgan analysts also believe a pickup in brand ads and organic video in the third quarter may give Facebook’s results a boost.

Facebook Inc (FB) - Advertiser Demand May Raise Prices

They also predict that strong demand for the company’s advertising products could help the company raise its prices.

Facebook sees solid engagement data for August

In a report dated Sept. 15, 2014, analysts Doug Anmuth, Kaizad Gotla and Diana Kluger said Facebook Inc NASDAQ:FB saw a month over month decline in overall internet share time, which fell to 17.5%. Facebook saw a year over year increase in overall internet minutes though, as last year’s share was 16.3%.

In mobile minutes, the social network grabbed a 20% share, not counting WhatsApp and Instagram. That’s compared to other social services like Twitter Inc NYSE:TWTR, Snapchat, and Facebook-owned WhatsApp and Instagram. The JPMorgan team said these social services saw a relatively flat share year over year at about 5%.

The analysts also pointed out that Facebook Inc NASDAQ:FB’s share of total U.S. internet minutes is nearly six times the number of minutes spent on competing social services. When including Instagram and WhatsApp in with Facebook’s total minutes, the social network marked a 26% year over year growth in August. That’s a bit of a deceleration from July’s 29% year over year growth.

Facebook to benefit from advertiser demand

They also noted that so far in the third quarter, there appears to be strong brand advertiser coverage. Anecdotally, they say it appears that Facebook Inc NASDAQ:FB has enjoyed increased usage by consumer packaged goods and automaker brands.

Specifically, the analysts say the automaker segment appears to have been especially active, with major brands like Mercedes-Benz, BMW and Acura advertising on Facebook during the current quarter. They also noted major activity from consumer goods like Lay’s, Pizza Hut, Quaker, Kellogg’s, Schick Hydro, Glade and others. They also noted more ads from retailer or apparel brands like Levi’s and Banana Republic, both of which now have “shop now” buttons on some of their ads.

The JPMorgan team said Facebook Inc NASDAQ:FB is still their “favorite idea” and reiterated their Overweight rating and $90 per share price target on the social network’s stock.