Beaten-up LegalZoom goes boom after earnings

LegalZoom.com

11/03/2022 15:22

** LegalZoom.com  LZ.O  shares up 9.7% to $13.00 in Friday
morning trade after co's Q4 report after the bell on Thurs
    ** Stock jumps as high as $14.27
    ** Q4 rev of $142.1 mln vs analyst estimate of $143.7 mln,
per Refinitiv
    ** Q1 rev guidance "came in 6% below consensus at the
midpoint as the company expects a modest decline in business
formation in 2022 as macro headwinds continue," per JMP
Securities analyst Andrew Boone in note
    ** Share bounce for online legal services co comes after
long slide since June 2021 IPO, with stock still about half of
$28 IPO price  urn:newsml:reuters.com:*:nL3N2OC46G
    ** "This was not the outcome we had hoped for, but we
believe the valuation is low enough that investors will be
rewarded for their patience at these levels," JPMorgan analyst
Sterling Auty says in note
    ** Of 10 analysts covering LZ, 5 rate "buy" or "strong buy",
5 rate "hold", per Refinitiv; median PT of $23.50 
    ** LZ shares now down ~19% YTD vs 16% decline for Nasdaq
 .IXIC 

 (Reporting by Lewis Krauskopf)
 ((lewis.krauskopf@thomsonreuters.com; 646-223-6082; Reuters
Messaging: lewis.krauskopf.thomsonreuters.com@reuters.net,
Twitter: @LKrauskopf))