JPMorgan analyst Ella Smith raised the firm’s price target on LegalZoom (LZ) to $11 from $9 and keeps an Overweight rating on the shares. The company announced the acquisition of Formation Nation, expanding its offerings of small business subscription solutions, and preannounced preliminary Q4 results, which should supportive of the shares, the analyst tells investors in a research note. The firm upped the price target to incorporate the positive Q4 results.
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Read More on LZ:
- LegalZoom’s Strategic Acquisition and Mixed Growth Signals Lead to Hold Rating
- LegalZoom Acquires Formation Nation for Strategic Expansion
- LegalZoom acquires Formation Nation, terms undisclosed
- LegalZoom reports preliminary Q4 revenue $161.7M, consensus $161.01M
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