LegalZoom.com (NASDAQ:LZ) Given New $8.00 Price Target at Morgan Stanley

LegalZoom.com (NASDAQ:LZ) had its price objective upped by Morgan Stanley from $7.00 to $8.00 in a report published on Monday,Benzinga reports. They currently have an underweight rating on the stock.

LZ has been the topic of several other research reports. UBS Group assumed coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock. William Blair began coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating for the company. Citigroup raised their price target 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. JPMorgan Chase & Co. upgraded shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and upped their price objective for the stock from $8.00 to $9.00 in a research report on Monday. Finally, Barclays boosted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. 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 an average price target of $8.81.

LegalZoom.com Stock Performance

LZ stock opened at $7.88 on Monday. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74. The company has a market capitalization of $1.36 billion, a PE ratio of 60.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. The company’s 50-day simple moving average is $7.94 and its 200 day simple moving average is $7.11.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Westwood Holdings Group Inc. increased its position in shares of LegalZoom.com by 15.8% during the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after acquiring an additional 762,612 shares in the last quarter. Franklin Resources Inc. increased its holdings in LegalZoom.com by 4.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock worth $20,310,000 after purchasing an additional 132,189 shares in the last quarter. Renaissance Technologies LLC increased its holdings in LegalZoom.com by 26.8% during the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after purchasing an additional 521,200 shares in the last quarter. Coastal Bridge Advisors LLC raised its stake in shares of LegalZoom.com by 10.2% in the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after purchasing an additional 184,696 shares during the last quarter. Finally, Tabor Asset Management LP lifted its holdings in shares of LegalZoom.com by 44.9% in the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock valued at $9,669,000 after purchasing an additional 472,002 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

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.