LegalZoom.com’s (LZ) Market Perform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of LegalZoom.com (NASDAQ:LZ) in a research report sent to investors on Tuesday morning,Benzinga reports.

LZ has been the topic of a number of other research reports. Barclays increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Citigroup increased their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, UBS Group initiated coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.06.

LegalZoom.com Stock Performance

Shares of LZ stock opened at $9.30 on Tuesday. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $13.74. The company has a market capitalization of $1.61 billion, a PE ratio of 71.54, a price-to-earnings-growth ratio of 1.76 and a beta of 1.13. The business’s fifty day moving average is $8.24 and its 200 day moving average is $7.35.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LZ. Vanguard Group Inc. grew its stake in shares of LegalZoom.com by 14.5% during the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after buying an additional 2,574,700 shares during the last quarter. Citizens Financial Group Inc. RI bought a new position in LegalZoom.com during the 3rd quarter valued at approximately $3,112,000. Tabor Asset Management LP lifted its holdings in LegalZoom.com by 44.9% in the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after buying an additional 472,002 shares during the period. Kazazian Asset Management LLC bought a new stake in shares of LegalZoom.com in the 4th quarter worth approximately $3,375,000. Finally, Pathway Capital Management LP purchased a new position in shares of LegalZoom.com during the fourth quarter valued at approximately $2,387,000. 81.99% of the stock is owned by institutional investors.

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.