LegalZoom.com (NASDAQ:LZ) Price Target Raised to $9.00

LegalZoom.com (NASDAQ:LZ) had its price objective boosted by equities research analysts at Barclays from $8.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential downside of 11.42% from the company’s current price.

A number of other brokerages also recently issued reports on LZ. Morgan Stanley increased 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. increased their price target 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. Citigroup increased their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Finally, UBS Group began 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. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.19.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ opened at $10.16 on Thursday. The company’s fifty day moving average price is $8.53 and its 200 day moving average price is $7.61. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.74. The company has a market capitalization of $1.76 billion, a PE ratio of 78.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of LegalZoom.com in the fourth quarter worth about $271,000. Mackenzie Financial Corp lifted its stake in shares of LegalZoom.com by 164.0% in the fourth quarter. Mackenzie Financial Corp now owns 84,086 shares of the company’s stock worth $631,000 after buying an additional 52,236 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of LegalZoom.com in the fourth quarter worth about $567,000. Two Sigma Advisers LP lifted its stake in shares of LegalZoom.com by 49.3% in the fourth quarter. Two Sigma Advisers LP now owns 430,000 shares of the company’s stock worth $3,229,000 after buying an additional 141,900 shares in the last quarter. Finally, Two Sigma Investments LP lifted its stake in shares of LegalZoom.com by 22.5% in the fourth quarter. Two Sigma Investments LP now owns 303,241 shares of the company’s stock worth $2,277,000 after buying an additional 55,652 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.