Citigroup Raises LegalZoom.com (NASDAQ:LZ) Price Target to $8.50

LegalZoom.com (NASDAQ:LZ) had its price objective hoisted by research analysts at Citigroup from $7.00 to $8.50 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential upside of 7.05% from the stock’s previous close.

A number of other research firms have also commented on LZ. Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. reissued an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a report on Friday, November 8th. Barclays raised their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. William Blair began coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. Finally, JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a 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 $8.75.

LegalZoom.com Stock Performance

LZ stock opened at $7.94 on Tuesday. The stock has a fifty day moving average of $7.16 and a 200-day moving average of $7.27. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 61.08, a PEG ratio of 1.77 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $168.60 million for the quarter, compared to the consensus estimate of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company’s revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 earnings per share. Equities analysts predict that LegalZoom.com will post 0.25 EPS for the current year.

Institutional Trading of LegalZoom.com

Several large investors have recently bought and sold shares of LZ. Franklin Resources Inc. lifted its stake in shares of LegalZoom.com by 4.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock valued at $20,310,000 after purchasing an additional 132,189 shares during the period. Barclays PLC raised its holdings in 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 purchasing an additional 169,761 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in LegalZoom.com by 37.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 170,181 shares of the company’s stock valued at $1,081,000 after buying an additional 45,941 shares during the period. XTX Topco Ltd bought a new stake in shares of LegalZoom.com during the 3rd quarter valued at $143,000. Finally, Wexford Capital LP purchased a new stake in shares of LegalZoom.com in the 3rd quarter worth about $64,000. 81.99% of the stock is owned by 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.