LegalZoom.com, Inc. (NASDAQ:LZ) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned a consensus recommendation of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $8.81.

Several research analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $8.00 to $9.00 in a report on Monday, January 13th. UBS Group began coverage on LegalZoom.com in a research note on Friday, December 6th. They set a “neutral” rating and a $9.00 price objective for the company. Morgan Stanley upped their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Citigroup boosted their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Barclays raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th.

LegalZoom.com Trading Up 3.4 %

LZ stock opened at $8.56 on Friday. The company has a market cap of $1.48 billion, a PE ratio of 65.85, a price-to-earnings-growth ratio of 1.64 and a beta of 1.10. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $13.74. The stock has a 50-day moving average price of $7.92 and a two-hundred day moving average price of $7.12.

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

Institutional Trading of LegalZoom.com

Several large investors have recently made changes to their positions in LZ. Quarry LP increased its holdings in shares of LegalZoom.com by 318.9% during the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after purchasing an additional 3,406 shares during the period. Nisa Investment Advisors LLC increased its position in shares of LegalZoom.com by 179.8% during the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after purchasing an additional 3,919 shares during the period. Point72 DIFC Ltd acquired a new position in shares of LegalZoom.com in the second quarter valued at $71,000. Wexford Capital LP bought a new position in LegalZoom.com in the third quarter worth $64,000. Finally, Creative Planning acquired a new stake in LegalZoom.com during the third quarter worth $72,000. 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.