Barclays Downgrades LegalZoom.com (NASDAQ:LZ) to Equal Weight

LegalZoom.com (NASDAQ:LZ) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Wednesday, MarketBeat reports.

Several other analysts also recently commented on LZ. Citigroup downgraded shares of LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $8.00 in a report on Wednesday. Raymond James started coverage on shares of LegalZoom.com in a research report on Wednesday, March 27th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. cut LegalZoom.com from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $14.00 to $9.00 in a report on Wednesday. Bank of America lowered 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. Finally, JMP Securities downgraded LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, LegalZoom.com presently has an average rating of “Hold” and a consensus target price of $11.21.

LegalZoom.com Stock Up 1.5 %

Shares of NASDAQ LZ opened at $5.95 on Wednesday. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $15.68. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 54.10, a P/E/G ratio of 2.88 and a beta of 1.10. The company’s fifty day moving average is $8.67 and its 200-day moving average is $10.69.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. The firm had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.87 million. On average, research analysts anticipate that LegalZoom.com will post 0.24 EPS for the current fiscal year.

Institutional Investors Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently made changes to their positions in LZ. Counterpoint Mutual Funds LLC acquired a new position in LegalZoom.com during the first quarter worth $135,000. New York State Teachers Retirement System increased its stake in shares of LegalZoom.com by 686.8% during the 4th quarter. New York State Teachers Retirement System now owns 10,606 shares of the company’s stock worth $120,000 after purchasing an additional 9,258 shares during the last quarter. Nomura Holdings Inc. acquired a new position in shares of LegalZoom.com during the 4th quarter worth about $120,000. Ameritas Investment Partners Inc. lifted its stake in LegalZoom.com by 8.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock valued at $178,000 after purchasing an additional 1,074 shares during the last quarter. Finally, Ascent Group LLC lifted its stake in LegalZoom.com by 27.6% in the 1st quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock valued at $182,000 after purchasing an additional 2,950 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

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.