Lazard (LAZ) has drawn fresh attention after reporting preliminary assets under management of about US$259.2b as of March 31, 2026, alongside market and FX depreciation and modest net inflows.
See our latest analysis for Lazard.
The recent AUM update has arrived alongside a sharp short term rebound, with a 7 day share price return of 21.44% and 1 year total shareholder return of 45.61%. However, the 90 day share price return remains slightly negative, which suggests that momentum has only recently picked up.
If Lazard’s move has you looking for other ideas in financials and beyond, it could be a good moment to uncover 18 top founder-led companies
With Lazard trading around US$50.02, sitting below an intrinsic value estimate and modestly under the average analyst price target, the key question is whether the recent rally still leaves a buying opportunity or if the market is already pricing in future growth.
Most Popular Narrative: 12.1% Undervalued
Against Lazard's last close at $50.02, the most followed narrative points to a fair value of $56.89, creating a clear valuation gap that hinges on specific growth and margin assumptions.
Analysts are assuming Lazard's revenue will grow by 11.6% annually over the next 3 years. Analysts assume that profit margins will increase from 7.5% today to 16.4% in 3 years time.
The entire valuation story focuses on earnings ramping up, margins stepping higher, and the market eventually assigning a tighter profit multiple. Want to see exactly how those moving parts are combined to reach that fair value and what needs to go right along the way?
Result: Fair Value of $56.89 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, you still need to consider risks such as higher costs from global expansion and ETF build out, which could pressure margins and delay the thesis.
Find out about the key risks to this Lazard narrative.
Next Steps
With mixed signals on value and some clear questions on margins and growth, it makes sense to check the data yourself and act quickly while sentiment is still forming around Lazard. Then weigh up the 2 key rewards and 2 important warning signs
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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