JPMorgan Chase & Co. Downgrades LegalZoom.com (NASDAQ:LZ) to Neutral

LegalZoom.com (NASDAQ:LZ) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat.com reports. They presently have a $9.00 price objective on the stock, down from their prior price objective of $14.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 51.26% from the company’s current price.

Other equities research analysts have also issued reports about the company. JMP Securities restated a “market outperform” rating and set a $14.00 price target on shares of LegalZoom.com in a research report on Friday, May 17th. Raymond James initiated coverage on LegalZoom.com in a research report on Wednesday, March 27th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $11.21.

LegalZoom.com Price Performance

NASDAQ LZ opened at $5.95 on Wednesday. The firm has a market cap of $1.12 billion, a PE ratio of 54.10, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. LegalZoom.com has a one year low of $5.33 and a one year high of $15.68. The stock’s 50 day simple moving average is $8.67 and its 200 day simple moving average is $10.69.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $174.21 million for the quarter, compared to analyst estimates of $174.87 million. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. As a group, equities analysts expect that LegalZoom.com will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its stake in LegalZoom.com by 8.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock worth $178,000 after buying an additional 1,074 shares during the period. Amalgamated Bank raised its stake in LegalZoom.com by 9.6% during the 4th quarter. Amalgamated Bank now owns 17,055 shares of the company’s stock worth $193,000 after buying an additional 1,495 shares during the period. Ascent Group LLC raised its stake in LegalZoom.com by 27.6% during the 1st quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock worth $182,000 after buying an additional 2,950 shares during the period. Principal Financial Group Inc. raised its stake in LegalZoom.com by 31.5% during the 1st quarter. Principal Financial Group Inc. now owns 17,990 shares of the company’s stock worth $240,000 after buying an additional 4,305 shares during the period. Finally, ProShare Advisors LLC raised its stake in LegalZoom.com by 22.5% during the 1st quarter. ProShare Advisors LLC now owns 24,042 shares of the company’s stock worth $321,000 after buying an additional 4,420 shares during the period. Institutional investors and hedge funds 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.