LegalZoom.com, Inc. (NASDAQ:LZ) Receives $8.79 Consensus Target Price from Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned an average rating of “Reduce” from the nine brokerages that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $8.79.

A number of equities research analysts have recently issued reports on LZ shares. UBS Group assumed coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 price target on the stock. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 price target on shares of LegalZoom.com in a report on Friday, November 8th. Citigroup increased their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, William Blair initiated coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating on the stock.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of LegalZoom.com by 14.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock valued at $3,605,000 after purchasing an additional 71,291 shares in the last quarter. Franklin Resources Inc. raised its holdings in LegalZoom.com by 4.5% during the third quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock valued at $20,310,000 after buying an additional 132,189 shares in the last quarter. Barclays PLC lifted its position in shares of LegalZoom.com by 308.5% in the third quarter. Barclays PLC now owns 224,782 shares of the company’s stock worth $1,427,000 after buying an additional 169,761 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of LegalZoom.com by 37.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 170,181 shares of the company’s stock worth $1,081,000 after acquiring an additional 45,941 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of LegalZoom.com during the 3rd quarter valued at about $143,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Stock Up 2.2 %

Shares of NASDAQ LZ opened at $7.73 on Monday. The stock’s fifty day simple moving average is $7.87 and its 200 day simple moving average is $7.15. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 1.81 and a beta of 1.10. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $13.74.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm had revenue of $168.60 million for the quarter, compared to analysts’ expectations of $167.66 million. During the same quarter last year, the business posted $0.05 EPS. LegalZoom.com’s revenue was up .8% on a year-over-year basis. As a group, analysts anticipate that LegalZoom.com will post 0.25 earnings per share for the current year.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company’s platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.