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

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) gapped up prior to trading on Thursday after Barclays raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $8.85, but opened at $9.66. Barclays currently has an equal weight rating on the stock. LegalZoom.com shares last traded at $10.28, with a volume of 628,157 shares traded.

A number of other research analysts have also recently weighed in on the stock. UBS Group assumed coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. Citigroup upped their price objective on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their target price on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Morgan Stanley upped their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Finally, JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and an average target price of $9.19.

Institutional Trading of LegalZoom.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in shares of LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after acquiring an additional 3,919 shares in the last quarter. Quarry LP increased its position in shares of LegalZoom.com by 83.4% in the third quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after purchasing an additional 3,732 shares during the last quarter. State of Wyoming raised its stake in LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock valued at $63,000 after purchasing an additional 2,475 shares in the last quarter. Wexford Capital LP bought a new stake in LegalZoom.com during the third quarter valued at approximately $64,000. Finally, Aigen Investment Management LP purchased a new position in LegalZoom.com in the 4th quarter worth approximately $76,000. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Trading Up 1.4 %

The stock’s fifty day moving average price is $8.53 and its 200 day moving average price is $7.61. The stock has a market cap of $1.76 billion, a P/E ratio of 78.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

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.