Trulia Now Covered by Analysts at Morgan Stanley (TRLA)

Stock analysts at Morgan Stanley assumed coverage on shares of Trulia (NASDAQ: TRLA) in a report issued on Thursday, Analyst Ratings.Net reports. The firm set an “underweight” rating on the stock.

The analysts wrote, “Trulia is slightly overvalued relative to peers in our view, and we believe it should trade at a discount to Zillow. The improving housing market could be a rising tide that lifts all boats; Trulia could continue to grow subscribers and ARPU at strong rates even if it lags Zillow in adoption. Trulia uniquely benefits from the consumer shift in time spent to mobile, as mobile homebuyers are more attractive to agents due to their propensity to be in-market.”

Trulia (NASDAQ: TRLA) traded down 0.31% on Thursday, hitting $29.26. Trulia has a 1-year low of $14.69 and a 1-year high of $38.22. The stock’s 50-day moving average is currently $31.02. The company’s market cap is $940.9 million.

Trulia (NASDAQ: TRLA) last announced its earnings results on Tuesday, April 30th. The company reported ($0.02) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.01) by $0.01. The company had revenue of $24.00 million for the quarter, compared to the consensus estimate of $21.09 million. The company’s quarterly revenue was up 97.4% on a year-over-year basis. On average, analysts predict that Trulia will post $0.17 earnings per share for the current fiscal year.

A number of other firms have also recently commented on TRLA. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Trulia in a research note to investors on Thursday, May 30th. They now have a $42.00 price target on the stock, up previously from $39.00. Separately, analysts at Goldman Sachs upgraded shares of Trulia from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, May 28th. They now have a $38.00 price target on the stock, up previously from $33.00. They noted that the move was a valuation call. Finally, analysts at JP Morgan Cazenove upgraded shares of Trulia from a “neutral” rating to an “overweight” rating in a research note to investors on Wednesday, May 1st. They now have a $41.00 price target on the stock, up previously from $34.00.

One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $39.86.

Trulia, Inc. is a real estate search engine company. The Company helps in finding homes for sale and provides real estate information.

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