Aug 8, 12:27 PM

LegalZoom Jumps Over 30% After BofA Upgrade on AI, Subscription Gains

LegalZoom Inc. surged roughly 30% in pre-market trading after the online legal-services company posted stronger-than-expected second-quarter results and lifted its full-year revenue outlook. Bank of America responded with a rare two-notch upgrade, raising the stock to Buy from Underperform and lifting its price target to $12 from $8. The bank credited management’s faster-than-anticipated shift to a subscription-based model and new artificial-intelligence partnerships for improving growth visibility. LegalZoom said subscription revenue, which had been flat, is now growing at double-digit rates, prompting the firm to increase its 2025 revenue growth forecast. Analysts at BofA said the momentum positions the company to sustain higher margins and expand its customer base.

#Bank of America #Buy #Underperform #LegalZoom #BofA

Written with ChatGPT .

Sources

Wall St Engine@wallstengine
1 year ago
BofA Upgrades $LZ to Buy from Underperform, Raises PT to $12 from $8 Analyst comments: "We upgrade LegalZoom from Underperform to Buy as management has executed a substantial portion of the shift toward subscriptions while also adding strategic AI collaborations. We believe LZ
Sean D. Emory@_SeanDavid
1 year ago
Legal Zoom + AI $LZ https://t.co/7aDZwAWyUc
Sean D. Emory@_SeanDavid
1 year ago
People have been sleeping on $LZ one of our newer positions here. People waking up to them. Double upgrade from BofA. From flat subscription revenue to double digit. Kudos to the team there! https://t.co/ypyBmqBrzx

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