UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on Trulia on Stronger 4Q Results
In a report published Wednesday, Goldman Sachs reiterated its Neutral rating on Trulia (NYSE: TRLA), and raised its price target from $25.00 to $27.00.
Goldman Sachs noted, “4Q results came in better than expected with revenues growing 75% yoy to $20.6mn versus our estimate of $19.4mn and consensus at $19.0mn, while adjusted EBITDA of $0.6mn was in line with consensus. The company issued above-consensus guidance which appears conservative given the strong trajectory of both agent and ARPU growth. We see multiple levers for growth and margin expansion, but with the stock trading at 17X 2014E EV/EBITDA, in line with its closest comparables, we believe valuation reflects strength of the model. Maintain Neutral.”
Trulia closed on Tuesday at $23.79.
Latest Ratings for TRLA
|Oct 2014||Deutsche Bank||Maintains||Hold|
|Jul 2014||Deutsche Bank||Downgrades||Buy||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.