William Blair downgrades LegalZoom stock rating on search uncertainty

William Blair has downgraded LegalZoom.com Inc (NASDAQ:LZ) to Market Perform from Outperform due to limited visibility into the company's ability to address current challenges, particularly concerning Google's search functionality. This follows LegalZoom's reduced guidance and concerns about potential negative impacts from changes in Google search, despite an earnings beat in Q2. JPMorgan also downgraded the stock, highlighting ongoing challenges for LegalZoom's growth momentum.