More on Goldman's upgrade of Trulia (TRLA +5.1%): Analyst Debra Schwartz argues an improving...


More on Goldman's upgrade of Trulia (TRLA +5.1%): Analyst Debra Schwartz argues an improving growth outlook fueled by an improving housing market justifies a valuation of 20x 2014E EV/EBITDA. She also notes Trulia trades at an 18% EV/sales discount to Zillow (Z +1%) after being pressured recently by a stock offering and lockup expiration, and that comScore estimates PC unique visitor growth rose to 32% Y/Y in April from 30% in March (mobile growth is much stronger). The Market Leader acquisition is seen increasing Trulia's paying agent share and providing new upselling opportunities.
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