Jefferies Upgrades LegalZoom.com Inc (LZ) to Buy

Jefferies analyst Brent Thill upgraded LegalZoom.com Inc (NASDAQ: LZ) from Hold to Buy with a price target of $8.00.

The analyst comments: "Upgrade LZ to Buy based on: 1) stock washed out (-41% YTD); 1.5x EV/S is 2nd lowest in our software coverage; 2) ests appear low enough, but even if FY25 is cut another $77M, EV/S still only 1.6x; 3) market leadership: #1 in online legal services with 20% EBITDA mgn; 4) rev to re-accelerate to M-HSD% in '25 from 3% in '24; 4) new CEO reset the bar and is poised to deliver more predictable, higher subs mix performance. PT $8 based on still depressed 1.8x EV/S."

For an analyst ratings summary and ratings history on LegalZoom.com Inc click here. For more ratings news on LegalZoom.com Inc click here.

Shares of LegalZoom.com Inc closed at $6.69 yesterday.

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