LZ - Why Did LegalZoom Stock Drop 27% Last Month?
2024-06-06 20:19:25 ET
Shares of LegalZoom (NASDAQ: LZ) tumbled 26.5% in May, according to data from S&P Global Market Intelligence . The stock moved sharply lower following its quarterly earnings report, then extended those losses throughout the rest of the month.
Investors were disappointed when LegalZoom published quarterly financial results on May 7. The company fell just short of analyst expectations for both sales and earnings, though the headline figures were roughly in line with the company's forecasts. LegalZoom's guidance for next quarter suggests no additional growth, but its full-year outlook is unchanged.
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Why Did LegalZoom Stock Drop 27% Last Month?