Adspend arms race in online real estate

"Despite a strategy pivot toward shockingly large ad spend" for Trulia (TRLA), Deutsche's Lloyd Walmsley maintains his Buy, though cutting the price target to $43 from $55.

The "ad wars" may bring pain to Trulia and the online real estate space in the short-term, but they "may hasten the end game where margins bottom out and we see the space consolidate." Trulia, he says, continues to trade at a big discount to the group.

TRLA -13.5%, Z -2.8% premarket

Last night's earnings coverage

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Comments (2)
  • leebailey85
    , contributor
    Comments (86) | Send Message
    Anyone buying the dip?
    14 Feb 2014, 10:01 AM Reply Like
  • tungle7
    , contributor
    Comments (83) | Send Message
    Buying? I wouldn't touch this momo play. This absurd valuation will come down to reality sooner or later.
    15 Feb 2014, 05:40 AM Reply Like
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