LegalZoom price target lowered to $15 from $17 at Barclays

Barclays analyst Ross Sandler lowered the firm’s price target on LegalZoom to $15 from $17 and keeps an Overweight rating on the shares ahead of the Q4 report. The analyst says business apps slowed in December despite easier compares, while early January data points to a rebound. The firm expects an in-line Q4 print and guidance pointing to sales growth troughing in the first half of 2024. Barclays is constructive on LegalZoom longer term, but concedes that double-digit growth may be needed to get investors off the sidelines.