LegalZoom.com, Inc. (NASDAQ:LZ) Given Average Recommendation of “Reduce” by Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned a consensus rating of “Reduce” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.79.

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Barclays cut LegalZoom.com from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 10th. Bank of America cut LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price objective for the company from $13.00 to $6.00 in a report on Wednesday, July 10th. William Blair assumed coverage on LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating for the company. Finally, JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th.

LegalZoom.com Price Performance

LZ opened at $6.90 on Wednesday. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The firm’s fifty day moving average price is $6.50 and its two-hundred day moving average price is $8.07. The company has a market capitalization of $1.30 billion, a P/E ratio of 62.73, a P/E/G ratio of 2.03 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results 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. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The firm had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. During the same quarter in the previous year, the company earned $0.02 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, equities research analysts expect that LegalZoom.com will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LZ. Wellington Management Group LLP raised its holdings in LegalZoom.com by 64.7% during the 4th quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock worth $22,309,000 after purchasing an additional 775,775 shares during the last quarter. Vanguard Group Inc. raised its holdings in LegalZoom.com by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after purchasing an additional 2,777,206 shares during the last quarter. Nomura Holdings Inc. bought a new stake in LegalZoom.com during the 4th quarter worth about $120,000. FCF Advisors LLC bought a new stake in LegalZoom.com during the 1st quarter worth about $781,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in LegalZoom.com during the 1st quarter worth about $135,000. 81.99% of the stock is 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.