LegalZoom.com (NASDAQ:LZ) Rating Reiterated by JMP Securities

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating reaffirmed by analysts at JMP Securities in a research report issued on Friday, Benzinga reports.

Several other research analysts have also recently issued reports on the company. Citigroup cut LegalZoom.com from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $8.00 in a research report on Wednesday, July 10th. Barclays cut shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Bank of America downgraded LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $13.00 to $6.00 in a research report on Wednesday, July 10th. Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. decreased their price objective on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a report on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.79.

LegalZoom.com Stock Up 1.7 %

LZ stock opened at $6.77 on Friday. The business has a fifty day moving average of $6.40 and a two-hundred day moving average of $9.29. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 61.55, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $13.74.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $177.36 million for the quarter, compared to analyst estimates of $172.92 million. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The company’s revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 earnings per share. As a group, sell-side analysts anticipate that LegalZoom.com will post 0.23 EPS for the current year.

Institutional Trading of LegalZoom.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of LegalZoom.com by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after acquiring an additional 2,777,206 shares during the last quarter. Technology Crossover Management IX Ltd. grew its position in LegalZoom.com by 14.6% during the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after purchasing an additional 2,094,240 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of LegalZoom.com by 62.0% in the first quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock valued at $64,282,000 after purchasing an additional 1,843,427 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of LegalZoom.com by 64.7% in the fourth quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock worth $22,309,000 after buying an additional 775,775 shares during the period. Finally, Renaissance Technologies LLC raised its position in LegalZoom.com by 26.8% during the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after buying an additional 521,200 shares during the period. 81.99% of the stock is currently 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.