LegalZoom.com (NASDAQ:LZ) Price Target Raised to $11.00

LegalZoom.com (NASDAQ:LZ) had its price target increased by analysts at JPMorgan Chase & Co. from $9.00 to $11.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 19.31% from the company’s previous close.

Several other research analysts have also recently commented on the company. Citigroup boosted their price target on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, January 31st. Barclays lifted their price target 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. Morgan Stanley increased their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Finally, UBS Group initiated coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.06.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $9.22 on Tuesday. The company has a market cap of $1.59 billion, a P/E ratio of 70.93, a PEG ratio of 1.76 and a beta of 1.13. The business’s 50-day simple moving average is $8.22 and its 200 day simple moving average is $7.33. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74.

Institutional Investors Weigh In On LegalZoom.com

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in shares of LegalZoom.com by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,392 shares of the company’s stock worth $674,000 after acquiring an additional 9,455 shares during the period. SG Americas Securities LLC acquired a new stake in shares of LegalZoom.com in the third quarter valued at approximately $395,000. Handelsbanken Fonder AB raised its holdings in shares of LegalZoom.com by 40.3% during the third quarter. Handelsbanken Fonder AB now owns 25,400 shares of the company’s stock valued at $161,000 after buying an additional 7,300 shares during the last quarter. Creative Planning bought a new stake in shares of LegalZoom.com during the third quarter valued at approximately $72,000. Finally, nVerses Capital LLC boosted its position in shares of LegalZoom.com by 16.2% during the third quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after buying an additional 2,200 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.