LegalZoom.com (NASDAQ:LZ) Earns Market Perform Rating from JMP Securities

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating reaffirmed by analysts at JMP Securities in a research report issued to clients and investors on Tuesday,Benzinga reports.

Several other research analysts have also issued reports on the company. UBS Group assumed coverage on LegalZoom.com in a research report on Friday, December 6th. They set a “neutral” rating and a $9.00 target price for the company. Barclays boosted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Morgan Stanley raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. raised their price objective on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Citigroup increased their price objective on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.06.

LegalZoom.com Price Performance

LZ stock traded up $0.21 during midday trading on Tuesday, reaching $9.43. 659,379 shares of the company were exchanged, compared to its average volume of 1,545,098. The business has a 50-day moving average price of $8.22 and a two-hundred day moving average price of $7.33. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 72.51, a price-to-earnings-growth ratio of 1.76 and a beta of 1.13.

Hedge Funds Weigh In On LegalZoom.com

Large investors have recently modified their holdings of the business. nVerses Capital LLC raised its stake in shares of LegalZoom.com by 16.2% during the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after buying an additional 2,200 shares during the last quarter. Quarry LP boosted its holdings in LegalZoom.com by 83.4% during the third quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after buying an additional 3,732 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after buying an additional 3,919 shares during the period. Summit Trail Advisors LLC increased its position in LegalZoom.com by 6.8% during the fourth quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company’s stock worth $552,000 after buying an additional 4,697 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in LegalZoom.com by 40.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 25,400 shares of the company’s stock valued at $161,000 after purchasing an additional 7,300 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.