Facebook reports 3rd-quarter earnings on Wednesday. Here's what 5 analysts are thinking about ahead of the results.

Price target: $231

Rating: Buy

"We once again see potential for upside to our above consensus numbers, as our field checks point to steady performance on Facebook, and continued outsized growth on Instagram and Stories," Goldman Sachs wrote in a note to clients on October 17.

The analysts added: "We expect management to remain conservative in its commentary around revenue growth, as the company has already called for continued deceleration through 2019."

Price target: $260

Rating: Outperform

"Together, the 2.7B MAU's between Facebook Messenger and WhatsApp represent significant monetization opportunities," RBC Capital Markets analyst Mark Mahaney wrote in a note to clients on October 27.

Mahaney continued: "How material could Facebook Messenger be alone? We believe it could contribute an incremental $6-8B in Revenue and $1 in EPS to the company by 2020."

Price target: Bumped to $197, from $195

Rating: Market Perform

"We are raising our estimates to reflect our view that the ad market remains strong overall, but we continue to expect 3Q revenue to decelerate slightly," BMO Capital Markets wrote in a note to clients on October 28.

BMO added: "On margins, we expect them to continue to decline in 2020 (vs. Street expectations for a rebound), and therefore, we remain comfortable at Market Perform."

Price target: $236

Rating: Buy

"While FB's user base is already at massive scale, we believe MAUs will continue to inch higher, grow across all geographies despite continued regulatory scrutiny," Analysts at SunTrust Robinson Humphrey said in a note to clients on October 28.

They continued: "Strength is being led by IG, Video, and Product Ads; with DR advertisers starting to show more interest in IG. We believe advertiser demand has remained strong throughout the period."