LegalZoom price target lowered to $14 from $16 at Citi

Citi analyst Ronald Josey lowered the firm’s price target on LegalZoom to $14 from $16 and keeps a Buy rating on the shares. The analyst updated the firm’s model to reflect LegalZoom’s shift towards its Freemium strategy. This should result in continued business formation share gains and ultimately increased adoption of LegalZoom’s suite of subscription offerings, the analyst tells investors in a research note. However, the firm dropped the price target to account for potential macro pressures in the second half of 2022 and the "mix-shift" to Freemium.