LegalZoom upgraded to Outperform from Market Perform at William Blair

William Blair analyst Stephen Sheldon upgraded LegalZoom (LZ) to Outperform from Market Perform without a price target The company reported an “impressive beat-and-raise” quarter with organic revenue growth accelerating for the second straight quarter, the analyst tells investors in a research note. The firm says LegalZoom has seen accelerating subscription revenue growth for three straight quarters. William Blair now sees an “increasingly positive risk/reward” with the shares trading at a valuation “that is far from demanding.”