LegalZoom.com (NASDAQ:LZ) Price Target Raised to $10.00 at Barclays

LegalZoom.com (NASDAQ:LZ) had its price objective hoisted by analysts at Barclays from $9.00 to $10.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Barclays‘s target price would indicate a potential downside of 6.80% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised LegalZoom.com from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. Bank of America raised LegalZoom.com from an “underperform” rating to a “buy” rating and upped their target price for the stock from $8.00 to $12.00 in a research report on Friday, August 8th. JPMorgan Chase & Co. upped their target price on LegalZoom.com from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Monday, May 19th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, May 15th. Finally, Morgan Stanley increased their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.92.

LegalZoom.com Price Performance

Shares of NASDAQ LZ opened at $10.73 on Tuesday. LegalZoom.com has a 1-year low of $5.57 and a 1-year high of $11.93. The business has a 50-day moving average of $9.04 and a 200-day moving average of $8.82. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 67.07, a PEG ratio of 3.61 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Thursday, August 7th. The company reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%. The company had revenue of $192.51 million during the quarter, compared to the consensus estimate of $182.49 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. Research analysts expect that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director John Francis Murphy sold 24,250 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $10.57, for a total value of $256,322.50. Following the completion of the transaction, the director owned 69,953 shares of the company’s stock, valued at approximately $739,403.21. This represents a 25.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LZ. Ararat Capital Management LP lifted its holdings in LegalZoom.com by 26.6% during the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock worth $24,396,000 after buying an additional 682,678 shares during the last quarter. Franklin Resources Inc. lifted its holdings in LegalZoom.com by 0.4% during the 2nd quarter. Franklin Resources Inc. now owns 3,236,697 shares of the company’s stock worth $28,839,000 after buying an additional 12,171 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in LegalZoom.com by 8.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,186,816 shares of the company’s stock worth $18,828,000 after buying an additional 166,385 shares during the last quarter. Nuveen LLC bought a new position in LegalZoom.com during the 1st quarter worth approximately $18,585,000. Finally, Dimensional Fund Advisors LP lifted its holdings in LegalZoom.com by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,396,523 shares of the company’s stock worth $10,489,000 after buying an additional 32,075 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Company Profile

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.