Seeking Alpha

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