LegalZoom.com (NASDAQ:LZ) Earns Market Perform Rating from Analysts at William Blair

Equities researchers at William Blair began coverage on shares of LegalZoom.com (NASDAQ:LZ) in a note issued to investors on Monday, Briefing.com reports. The firm set a “market perform” rating on the stock.

A number of other research analysts also recently weighed in on the company. Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Wednesday, July 31st. Bank of America cut LegalZoom.com from a “buy” rating to an “underperform” rating and lowered their target price for the company from $13.00 to $6.00 in a research note on Wednesday, July 10th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research report on Friday. Citigroup downgraded shares of LegalZoom.com from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Finally, Barclays downgraded shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and an average target price of $9.79.

LegalZoom.com Stock Up 1.7 %

NASDAQ:LZ opened at $6.77 on Monday. The stock has a fifty day simple moving average of $6.40 and a 200 day simple moving average of $9.27. The firm has a market capitalization of $1.27 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 1-year low of $5.33 and a 1-year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $0.02 earnings per share. Equities analysts predict that LegalZoom.com will post 0.23 earnings per share for the current year.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds have recently bought and sold shares of the business. Technology Crossover Management IX Ltd. boosted its stake in shares of 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 acquiring an additional 2,094,240 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in LegalZoom.com by 15.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock valued at $11,833,000 after purchasing an additional 138,702 shares during the last quarter. Blair William & Co. IL raised its position in shares of LegalZoom.com by 5.4% in the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock valued at $51,177,000 after purchasing an additional 195,512 shares during the period. Vanguard Group Inc. lifted its stake in shares of LegalZoom.com by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after buying an additional 2,777,206 shares during the last quarter. Finally, Hawk Ridge Capital Management LP boosted its holdings in shares of LegalZoom.com by 2.4% during the 4th quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after buying an additional 135,517 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

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.