LegalZoom price target raised to $8 from $7.20 at BofA

BofA raised the firm’s price target on LegalZoom (LZ) to $8 from $7.20 and keeps an Underperform rating on the shares. After what the firm calls “overall a solid quarter” and guidance, it adds that “just” one point of year-over-year EBITDA margin expansion after multiple years of stronger leverage “could be considered underwhelming.” For FY25, the firm’s revenue and EBITDA estimates are now at $713.0M and $165.4M, up from prior forecasts of $711.8M and $143.1M, respectively.