LegalZoom.com Inc is a technology-driven company that provides online legal solutions and services to individuals and small businesses
Its platform allows users to access a wide range of legal documents, including wills, business formation, and trademark registration, often simplifying the process of obtaining legal assistance without the need for traditional in-person consultations with attorneys. By offering affordable and accessible legal resources, LegalZoom aims to empower users to navigate their legal needs with ease and confidence. The company also provides support services, including legal advice from licensed attorneys, enhancing its capability to serve clients in various legal matters.
Shares of online legal service provider LegalZoom (NASDAQLZ) jumped 7.2% in the morning session after the stock received a double rating upgrade from JP Morgan. JP Morgan upgraded LZ's stock from Underweight (Sell) to Overweight (Buy), adding that the company is at "an inflection point." The firm added, "Accordingly, we place LegalZoom on Positive Catalyst Watch, expecting management to guide 2025E ahead of the Street for profitability during its 4Q24 earnings release (expected in February)."
Over the past six months, LegalZoom’s stock price has fallen to $7.94. Shareholders have lost 7% of their capital, highly disappointing when considering the S&P 500 has climbed 13.4%. This may have investors wondering how to approach the situation.
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Online legal service provider LegalZoom (NASDAQLZ) met Wall Street’s revenue expectations in Q3 CY2024, but sales were flat year on year at $168.6 million. On the other hand, next quarter’s revenue guidance of $160 million was less impressive, coming in 1.3% below analysts’ estimates. Its GAAP profit of $0.06 per share was 29.4% above analysts’ consensus estimates.
LegalZoom shares are tanking Wednesday after the company announced a CEO transition and lowered its full-year guidance. Here's a look at what's going on:
The CNN Money Fear and Greed index showed improving market sentiment with a Greed reading of 57.8 on Wednesday, as U.S. stocks closed higher with record highs for the S&P 500 and Nasdaq.
