JPMorgan Chase & Co. Boosts LegalZoom.com (NASDAQ:LZ) Price Target to $11.00

LegalZoom.com (NASDAQ:LZ) had its price target boosted by investment analysts at JPMorgan Chase & Co. from $9.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 19.18% from the company’s current price.

Several other equities analysts have also issued reports on the company. Citigroup lifted their price target on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, January 31st. UBS Group started coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 price target on the stock. Barclays raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Morgan Stanley upped their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and an average target price of $9.06.

LegalZoom.com Stock Performance

Shares of LZ opened at $9.23 on Tuesday. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The firm’s 50-day simple moving average is $8.26 and its two-hundred day simple moving average is $7.36. The stock has a market cap of $1.60 billion, a PE ratio of 71.01, a price-to-earnings-growth ratio of 1.76 and a beta of 1.13.

Institutional Trading of LegalZoom.com

A number of hedge funds have recently bought and sold shares of LZ. Vanguard Group Inc. increased its holdings in 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. Norges Bank bought a new stake in shares of LegalZoom.com during the 4th quarter valued at $5,769,000. JPMorgan Chase & Co. increased its stake in shares of LegalZoom.com by 103.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock worth $8,662,000 after purchasing an additional 585,734 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in LegalZoom.com by 2,178.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 518,728 shares of the company’s stock worth $3,896,000 after purchasing an additional 495,959 shares during the period. Finally, Citizens Financial Group Inc. RI purchased a new position in LegalZoom.com during the third quarter valued at $3,112,000. Hedge funds and other institutional investors 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.