LegalZoom.com, Inc. (NASDAQ:LZ) saw a significant surge in its stock price, hitting a record high of $11.93 before closing at $10.98, up by 31.18 percent. The company raised its full-year revenue growth forecast to 8 percent and maintained adjusted EBITDA growth at around 23 percent.

LegalZoom targets revenues between $182 million and $184 million in the third quarter, with adjusted EBITDA of $44 million to $46 million. In the second quarter, non-GAAP net income grew by 50 percent to $28 million, while revenues increased by 9 percent to $193 million.

Bank of America upgraded LegalZoom to a “buy” rating, with a price target of $12, citing positive financial results. Despite LZ’s potential, some AI stocks may offer higher returns. For more information on a cheap AI stock with promising upside potential, check out our free report.

Read more at Yahoo Finance: LegalZoom (LZ) Climbs to New High as Firm Raises Growth Forecast, Analyst Turns Bullish