LegalZoom.com, Inc. (NASDAQ:LZ) Receives Average Rating of “Reduce” from Analysts

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned an average rating of “Reduce” from the nine research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.79.

A number of brokerages have issued reports on LZ. Barclays lowered LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Citigroup downgraded shares of LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $15.00 to $8.00 in a research note on Wednesday, July 10th. William Blair began coverage on shares of LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th.

LegalZoom.com Stock Performance

LZ stock opened at $6.47 on Friday. The firm has a market cap of $1.22 billion, a PE ratio of 58.82, a PEG ratio of 2.08 and a beta of 1.10. The firm’s 50 day moving average price is $6.41 and its 200-day moving average price is $8.88. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $177.36 million for the quarter, compared to analyst estimates of $172.92 million. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. Equities research analysts predict that LegalZoom.com will post 0.23 EPS for the current fiscal year.

Institutional Trading of LegalZoom.com

Several large investors have recently modified their holdings of LZ. Quarry LP boosted its position in LegalZoom.com by 318.9% during the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after acquiring an additional 3,406 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of LegalZoom.com in the 2nd quarter valued at $71,000. Counterpoint Mutual Funds LLC acquired a new position in shares of LegalZoom.com in the 1st quarter valued at $135,000. Nomura Holdings Inc. acquired a new position in shares of LegalZoom.com in the 4th quarter valued at $120,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of 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. 81.99% of the stock is currently 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.