Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) Price Target at $9.79

LegalZoom.com, Inc. (NASDAQ:LZ) has been given a consensus rating of “Reduce” by the nine analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $9.79.

A number of brokerages recently weighed in on LZ. JPMorgan Chase & Co. lowered their price objective on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Wednesday, July 31st. Bank of America downgraded LegalZoom.com from a “buy” rating to an “underperform” rating and lowered their target price for the company from $13.00 to $6.00 in a report on Wednesday, July 10th. Finally, Barclays downgraded LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of LegalZoom.com by 7.3% in the first quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after purchasing an additional 1,158,252 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of LegalZoom.com by 15.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after acquiring an additional 762,612 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of LegalZoom.com by 5.4% in the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock valued at $51,177,000 after purchasing an additional 195,512 shares in the last quarter. Renaissance Technologies LLC increased its position in LegalZoom.com by 26.8% in the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after purchasing an additional 521,200 shares during the last quarter. Finally, Coastal Bridge Advisors LLC lifted its position in LegalZoom.com by 10.2% during the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock valued at $16,751,000 after purchasing an additional 184,696 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Stock Up 1.3 %

NASDAQ:LZ opened at $6.98 on Wednesday. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 63.45, a PEG ratio of 2.03 and a beta of 1.10. The company’s 50 day moving average price is $6.48 and its 200-day moving average price is $8.11. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74.

LegalZoom.com (NASDAQ:LZ) last issued its 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. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The business had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. During the same period last year, the business posted $0.02 EPS. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that LegalZoom.com will post 0.23 earnings per share for the current year.

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.