Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) Price Target at $9.93

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned a consensus recommendation of “Reduce” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $9.93.

Several research firms have recently commented on LZ. Citigroup cut LegalZoom.com from a “buy” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $8.00 in a report on Wednesday, July 10th. JMP Securities downgraded LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 10th. Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, July 31st. Bank of America downgraded shares of LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price target for the company from $13.00 to $6.00 in a report on Wednesday, July 10th. Finally, Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th.

Institutional Trading of LegalZoom.com

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP raised its holdings in shares of LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after acquiring an additional 3,406 shares during the last quarter. Coastal Bridge Advisors LLC increased its position in LegalZoom.com by 10.2% during the 2nd 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 in the last quarter. The Manufacturers Life Insurance Company increased its position in LegalZoom.com by 13.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,392 shares of the company’s stock worth $674,000 after purchasing an additional 9,455 shares in the last quarter. Point72 DIFC Ltd acquired a new position in LegalZoom.com in the 2nd quarter valued at about $71,000. Finally, Marshall Wace LLP purchased a new position in LegalZoom.com in the 2nd quarter valued at about $1,784,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

LZ stock opened at $6.74 on Tuesday. The stock has a market capitalization of $1.27 billion, a PE ratio of 61.27, a price-to-earnings-growth ratio of 4.44 and a beta of 1.10. The company has a fifty day moving average of $6.75 and a 200-day moving average of $9.58. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. LegalZoom.com had a net margin of 3.15% and a return on equity of 19.47%. The firm had revenue of $177.36 million during the quarter, compared to the consensus estimate of $172.92 million. During the same quarter last year, the firm earned $0.02 earnings per share. The firm’s revenue was up 5.0% compared to the same quarter last year. Equities analysts forecast that LegalZoom.com will post 0.23 earnings per share for the current fiscal year.

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.