Stock Track | LegalZoom Plummets 5.39% in Pre-Market Following Earnings Miss and Multiple Analyst Price Target Cuts

Stock Track

02/20

LegalZoom.com, Inc (LZ) experienced a significant pre-market plummet of 5.39% on Friday.

The movement follows the company's quarterly earnings report, where it reported adjusted earnings of 17 cents per share for the quarter ended December 31, missing the mean analyst estimate of 18 cents. While revenue rose 17.7% to $190.27 million and beat expectations, the earnings shortfall disappointed investors.

Adding to the negative sentiment, multiple prominent financial institutions cut their price targets on LegalZoom shares. These included downgrades from Morgan Stanley, Jefferies, Barclays, and UBS, with significant reductions in their target prices contributing to the selling pressure in the pre-market session.

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