Social media giant Facebook Inc (NASDAQ:FB) hit a record high earlier this week, closing at $90 a share on July 13. While there has been an overall bullish consensus on Facebook for quite some time, Wall Street analysts have recently been buzzing about the the company’s video and mobile advertising platform.

Facebook has been diligently working to develop and improve multiple areas of its mobile advertising platform including measurement and targeting revisions, auto-play video ads, FAN, Atlas, LiveRail, and the recently expanded Buy Button. Many believe that these efforts are transforming Facebook from a social media website into a global communications platform.

Morgan Stanley analyst Brian Nowak maintained an Overweight rating on Facebook and raised his price target from $94 to $110 on July 15 in light of the strength in the company’s mobile advertising. The analyst names Facebook as the clear leader in the mobile advertising industry as it has low pricing and high advertising return-on-investment. Nowak also cites that Facebook’s ad budgets and ad dollars per monthly-active-user continues to grow larger and larger.

FB

Brian Nowak has rated Facebook 14 times total since 2014, earning a 75% success rate recommending the stock and a +20.2% average return per recommendation when measured over a one-year horizon and no benchmark. Overall, the analyst has a 53% success rate recommending stocks and a +4.6% average return per recommendation.

Pivatol Research analyst Brian Wieser is also bullish on Facebook and the direction its advertising platform is heading, maintaining a Buy rating on the stock on July 13 but lowering his price target from $107 to $105. The analyst noted, “We have incorporated raised expectations for the company given ongoing traction with various segments of advertisers that should help Facebook [capture] a growing share of digital advertising budgets.”

FB

Wieser has rated Facebook a total of 17 times, earning a 93% success rate recommending the company and a +39.0% average return per recommendation when measured over a one-year horizon and no benchmark. Brian Weiser has an overall success rate of 82% recommending stocks and a +19.6% average return per recommendation when measured over a one-year horizon and no benchmark.

Out of 35 analysts polled by TipRanks, 31 analysts are bullish on Facebook, 1 is bearish, and 3 are neutral. The average 12-month price target on Facebook is $98.03, marking 9.21% potential upside from where the stock is currently trading. On average, the all-analyst consensus for Facebook is Moderate Buy.