The firm set a "fair value" rating on the stock with a $37 price target. CRT called Trulia a solid number-two in the online real estate market behind Zillow (Z). The firm also contends that early results of Trulia's planned venture into brand marketing in 2014 have been positive but could also have substantial risks.
Earlier this week, Barclays initiated coverage on Trulia with an "equal weight" rating.
The stock was down 10.64% to $30.26 at 2:49 p.m. on Friday. More than 2 million shares had changed hands, greater than the average volume of 1,840,190.
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Separately, TheStreet Ratings team rates TRULIA INC as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate TRULIA INC (TRLA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and feeble growth in the company's earnings per share."