LegalZoom Is Too Cheap To Ignore (Upgrade)
LegalZoom is undervalued after a 45% share price decline despite continued revenue and cash flow growth. LZ is shifting its product mix toward higher-value offerings, driving increased profitability and average revenue per subscription unit. Management reduced 2026 revenue guidance to $795–$805 million and EBITDA to $190–$195 million, but valuation multiples remain compelling.