LegalZoom.com, Inc. (NASDAQ:LZ) Receives $8.79 Average Price Target from Analysts

LegalZoom.com, Inc. (NASDAQ:LZ) has received an average rating of “Reduce” from the nine research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $8.79.

A number of equities analysts have issued reports on LZ shares. UBS Group initiated coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. Citigroup raised their price target on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. William Blair started coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating for the company. Barclays raised their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 price target on shares of LegalZoom.com in a research report on Friday, November 8th.

Institutional Trading of LegalZoom.com

A number of institutional investors have recently made changes to their positions in the stock. Quarry LP lifted 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 valued at $38,000 after buying an additional 3,406 shares during the period. Nisa Investment Advisors LLC lifted its holdings in LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after acquiring an additional 3,919 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in LegalZoom.com in the 2nd quarter valued at about $71,000. Wexford Capital LP bought a new position in shares of LegalZoom.com during the 3rd quarter valued at about $64,000. Finally, Creative Planning acquired a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $72,000. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $7.73 on Monday. The stock has a 50-day simple moving average of $7.87 and a 200 day simple moving average of $7.13. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 59.47, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $168.60 million during the quarter, compared to analyst estimates of $167.66 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. On average, equities research analysts forecast that LegalZoom.com will post 0.25 EPS 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.