This morning, Facebook, Inc. (NASDAQ:FB) made an official announcement for Marketplace, the much-awaited peer-to-peer commerce platform within the core Facebook app that will enable users to buy products from local sellers.

In light of this social commerce development, Baird top analyst Colin Sebastian believes the social media giant is raring to take a massive revenue slice from the “lucrative” e-commerce Marketplace market and therefore reiterates an Outperform rating on shares of FB with a $155 price target, which represents a nearly 34% increase from where the stock is currently trading.

The analyst comments, “Given Facebook’s massive scale, user engagement, and treasure-trove of data, we believe that Marketplace is a natural extension of the company’s social platform. While the service is currently targeted towards peer-to-peer transactions (akin to classified ads), we believe Facebook could leverage existing ad formats (including dynamic product ads) and investments in local services to evolve into a more traditional e-commerce offering.”

“While it is too early to know how quickly Facebook’s e-commerce platform will grow, we continue to believe that social commerce will play a meaningful role in consumer shopping, and that Facebook and Messenger (along with platforms such as Pinterest) are well positioned to compete given their scale and data,” Sebastian concludes.

As usual, we like to include the analyst’s track record when reporting on new analyst notes to give a perspective on the effect it has on stock performance. According to TipRanks, top five-star analyst Colin Sebastian has achieved a high ranking of #9 out of 4,197 analysts. Sebastian upholds a 78% success rate and yields 20.0% in his annual returns. When recommending FB, Sebastian earns 25.5% in average profits on the stock.

TipRanks analytics exhibit FB as a Strong Buy. Based on 38 analysts polled in the last 3 months, 33 rate a Buy on FB, while 5 maintain a Hold. The consensus price target stands at $156.91, marking a 22% upside from where the stock is currently trading.