LegalZoom gains on full-year revenue forecast raise, Q3 profit beat

LegalZoom.com

11/11/2022 14:03

** Online legal services firm LegalZoom.com Inc's shares
 LZ.O  climb 14.4% to $10.80 premarket - set to open at highest
level in two months
    ** Co forecasts FY22 revenue in the range of $617 mln-$619
mln, the midpoint being higher than their prior revenue est. of
$614 mln
    ** LZ reports Q3 adj. earnings of 5 cents/shr vs analysts'
estimates of 4 cents/shr, as per Refinitiv IBES data
    ** However, at least three brokerages cut PT on the stock;
Credit Suisse ("outperform"; PT: $15) expects seasonal weakness
and macroeconomic uncertainty to persist in Q4 and extend to
FY23 
    ** 5 of 10 brokerages rate the stock "buy" or higher, 4
"hold" and 1 "sell"; their median PT is $12
    ** Up to Thursday's close, stock had fallen 41.1% YTD
 (Reporting by Shristi  Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))