William Blair Begins Coverage on LegalZoom.com (NASDAQ:LZ)

William Blair assumed coverage on shares of LegalZoom.com (NASDAQ:LZ) in a research note published on Monday morning, MarketBeat Ratings reports. The firm issued a market perform rating on the stock.

A number of other research firms have also weighed in on LZ. JPMorgan Chase & Co. reduced their price objective on LegalZoom.com from $9.00 to $8.00 and set a neutral rating for the company in a research note on Thursday, September 5th. Citigroup lowered LegalZoom.com from a buy rating to a neutral rating and reduced their price objective for the company from $15.00 to $8.00 in a research note on Wednesday, July 10th. Barclays lowered LegalZoom.com from an overweight rating to an equal weight rating in a research note on Wednesday, July 10th. JMP Securities reiterated a market perform rating on shares of LegalZoom.com in a research note on Friday, September 13th. Finally, Jefferies Financial Group upgraded LegalZoom.com from a hold rating to a buy rating and set a $8.00 price objective for the company in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, LegalZoom.com presently has an average rating of Hold and a consensus price target of $9.79.

LegalZoom.com Trading Down 1.2 %

Shares of LZ opened at $6.67 on Monday. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $13.74. The stock has a fifty day moving average price of $6.37 and a 200-day moving average price of $9.17. The firm has a market cap of $1.26 billion, a PE ratio of 60.64, a P/E/G ratio of 2.03 and a beta of 1.10.

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

Institutional Investors Weigh In On LegalZoom.com

Institutional investors have recently modified their holdings of the business. Quarry LP boosted its holdings in LegalZoom.com by 318.9% in the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after buying an additional 3,406 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in LegalZoom.com in the 2nd quarter worth about $71,000. Counterpoint Mutual Funds LLC acquired a new stake in LegalZoom.com in the 1st quarter worth about $135,000. Nomura Holdings Inc. acquired a new stake in LegalZoom.com in the 4th quarter worth about $120,000. Finally, 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 worth $178,000 after purchasing an additional 1,074 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

About LegalZoom.com

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.