LegalZoom.com (NASDAQ:LZ) Price Target Raised to $8.00

LegalZoom.com (NASDAQ:LZ) had its price target raised by Morgan Stanley from $7.00 to $8.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other analysts have also recently weighed in on the stock. Barclays increased their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. increased their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, April 11th. Finally, William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and an average price target of $9.19.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $9.02 on Friday. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 69.39, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $10.60. The company’s fifty day moving average is $8.19 and its two-hundred day moving average is $8.25.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. The company had revenue of $183.11 million for the quarter, compared to analysts’ expectations of $176.17 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.09 earnings per share. Sell-side analysts expect that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in LegalZoom.com by 14.5% in the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after acquiring an additional 2,574,700 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in LegalZoom.com by 297.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company’s stock valued at $8,799,000 after acquiring an additional 877,125 shares during the last quarter. Norges Bank acquired a new stake in LegalZoom.com in the 4th quarter valued at about $5,769,000. Ararat Capital Management LP lifted its holdings in LegalZoom.com by 26.6% in the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock valued at $24,396,000 after acquiring an additional 682,678 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in LegalZoom.com by 103.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock valued at $8,662,000 after acquiring an additional 585,734 shares during the last quarter. Institutional investors 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.