LegalZoom.com, Inc. (LZ) shares are soaring 34.95% in early trading on Friday, following a series of positive developments that have boosted investor confidence in the online legal services provider. The company's strong second-quarter results, raised full-year revenue growth outlook, and a notable analyst upgrade have all contributed to the significant stock price surge.

For the quarter ended June 30, LegalZoom reported impressive financial performance that exceeded market expectations. The company's revenue climbed 8.5% to $192.51 million, significantly surpassing the Wall Street forecast of $182.70 million. Additionally, LegalZoom posted adjusted earnings of $0.15 per share, meeting analysts' expectations and showing improvement from $0.10 per share in the same quarter last year. This strong top-line growth, coupled with maintained earnings, has clearly impressed investors.

Adding to the positive sentiment, LegalZoom raised its full-year revenue growth outlook, signaling confidence in its future performance. Furthermore, BofA Global Research upgraded the stock to Buy from Underperform and raised its price objective to $12 from $8, providing additional support for the stock's upward momentum. These factors collectively explain the substantial intraday surge in LegalZoom's stock price, as investors react to the company's improved financial performance and growth prospects.