UPDATE: Deutsche Bank Reiterates On Trulia Following Another Solid Quarter

In a report published Friday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Trulia (NYSE: TRLA), but lowered the price target from $71.00 to $64.00.

In the report, Deutsche Bank noted, “Trulia reported another solid quarter with better than expected net new subs, ARPU, marketplace and display revenue and Adj EBITDA. The company guided to 2Q revenue above our and consensus estimates, though EBITDA guidance was slightly light. Traffic at core Trulia continues to accelerate and is tracking to a fourth month of acceleration in July. Over half of traffic and leads now come from mobile, where the company now has 40% TMA penetration on core Trulia subs. The strong results may help shares modestly but the pending transaction with Zillow puts more weight on Zillow's results next week, which could likely show similar strength.”

Trulia closed on Thursday at $60.53.