LZ - LegalZoom stock sinks to post-IPO low after legal-documents platform misses on Q3 earnings

LegalZoom (NASDAQ:LZ) fell some 15% Thursday to a post-IPO low after the legal-documents platform missing analyst expectations for its Q3 earnings. LZ sank as much as 16.6% to a $19.83 intraday record low before partly recovering to change hands 13.9% lower at $20.48 shortly before 4 p.m. ET. A close at that level would mark the company’s worst finish since going public in June at $28 a share. All told, LZ has lost some 26.7% since its June 30 IPO. LegalZoom (LZ) sank after reporting that Q3 non-GAAP and GAAP earnings per share came in below analysts’ forecasts. However, the company did manage to beat analyst expectations on revenues. LZ is a popular, low-cost platform that helps consumers and small businesses draft wills, patents, business incorporations or similar documents online without using a lawyer. The company went public over the summer to initial Wall Street enthusiasm, rising nearly 40% intraday

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LegalZoom stock sinks to post-IPO low after legal-documents platform misses on Q3 earnings