Needham & Company Boosts Numbers on Trulia (TRLA) Post Q1

May 1, 2013 11:01 AM EDT
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Price: $48.36 --0%

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Needham & Company reiterated a Buy rating and $40 price target on Trulia (NYSE: TRLA) following a strong 'beat and raise' Q1.

Analyst Kerry Rice comments, "Trulia reported strong Q1 results that beat expectations across the board. Revenue acceleration was driven by a step up in net sub adds in the quarter compared to 1Q12 and continued expansion in ARPU. The company's Q2 guidance was also solid coming above expectations and leaving room for upside given the strength in Q1 numbers and continued momentum in key operating metrics."

The firm raised FY 2013 revenue estimates from $102.8 to $112.9 million while EPS was cut from $0.26 to $0.17. For 2014, revenues estimates go from $140.8 to $151.8 million and EPS was raised from $0.63 to $0.66.

For an analyst ratings summary and ratings history on Trulia click here. For more ratings news on Trulia click here.

Shares of Trulia closed at $29.06 yesterday.

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