LegalZoom.com (NASDAQ:LZ) Shares Gap Up on Analyst Upgrade

LegalZoom.com, Inc. (NASDAQ:LZ)’s share price gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $9.00 to $11.00. The stock had previously closed at $9.22, but opened at $9.47. JPMorgan Chase & Co. currently has an overweight rating on the stock. LegalZoom.com shares last traded at $9.41, with a volume of 159,174 shares changing hands.

A number of other research firms have also recently weighed in on LZ. 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 note on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, January 31st. Barclays lifted 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 report on Monday, November 11th. UBS Group initiated coverage on LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock. Finally, Citigroup lifted their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.06.

Institutional Trading of LegalZoom.com

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of LegalZoom.com by 14.5% in the fourth 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 in the last quarter. Citizens Financial Group Inc. RI acquired a new position in shares of LegalZoom.com during the 3rd quarter valued at $3,112,000. Tabor Asset Management LP raised its stake in shares of LegalZoom.com by 44.9% in the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after buying an additional 472,002 shares in the last quarter. Kazazian Asset Management LLC acquired a new stake in shares of LegalZoom.com in the fourth quarter valued at $3,375,000. Finally, Pathway Capital Management LP acquired a new stake in shares of LegalZoom.com in the fourth quarter valued at $2,387,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Stock Up 0.9 %

The company has a 50 day moving average of $8.24 and a two-hundred day moving average of $7.35. The firm has a market cap of $1.61 billion, a P/E ratio of 71.54, a PEG ratio of 1.76 and a beta of 1.13.

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.