LegalZoom.com (NASDAQ:LZ) Price Target Raised to $8.00

LegalZoom.com (NASDAQ:LZ) had its price objective upped by Morgan Stanley from $7.00 to $8.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock.

LZ has been the subject of a number of other research reports. William Blair started coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. Barclays increased their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group began coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. JPMorgan Chase & Co. upgraded LegalZoom.com from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $8.00 to $9.00 in a research note on Monday. Finally, Citigroup raised their price objective on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.81.

LegalZoom.com Trading Up 6.4 %

Shares of LegalZoom.com stock traded up $0.48 during trading hours on Monday, reaching $8.00. The stock had a trading volume of 618,472 shares, compared to its average volume of 920,912. The firm has a 50 day simple moving average of $7.92 and a two-hundred day simple moving average of $7.11. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 61.54, a P/E/G ratio of 1.81 and a beta of 1.10. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business had revenue of $168.60 million during the quarter, compared to analyst estimates of $167.66 million. During the same quarter last year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. Sell-side analysts forecast that LegalZoom.com will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of 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 purchasing an additional 3,406 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after purchasing an additional 3,919 shares during the last quarter. Wexford Capital LP bought a new stake in shares of LegalZoom.com in the 3rd quarter worth approximately $64,000. Point72 DIFC Ltd bought a new stake in shares of LegalZoom.com in the 2nd quarter worth approximately $71,000. Finally, Creative Planning bought a new stake in LegalZoom.com during the 3rd quarter valued at $72,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.