BofA Securities Upgrades LegalZoom.com Inc (LZ) to Buy

BofA Securities analyst Michael McGovern upgraded LegalZoom.com Inc (NASDAQ: LZ) from Underperform to Buy with a price target of $12.00 (from $8.00).

The analyst comments "We upgrade LZ from Underperform to Buy as mgmt. has executed a substantial portion of the shift toward Subscriptions, while also adding strategic AI collaborations. LZ can likely sustain double-digit subscription revenue well into next year, as revenue growth has significantly exceeded our expectations. Accelerating growth given already-strong 20%+ EBITDA margins could warrant multiple expansion given the discounted multiple. We also see no slowdown in strong FCF trajectory."

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 $8.37 yesterday.

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