LegalZoom.com (NASDAQ:LZ) Downgraded by Citigroup

LegalZoom.com (NASDAQ:LZ) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research note issued on Wednesday, Marketbeat.com reports. They currently have a $8.00 price target on the stock, down from their previous price target of $15.00. Citigroup’s price objective would suggest a potential upside of 34.45% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. JMP Securities cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Raymond James initiated coverage on shares of LegalZoom.com in a report on Wednesday, March 27th. They set a “market perform” rating on the stock. Bank of America cut shares of LegalZoom.com from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $13.00 to $6.00 in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut shares of LegalZoom.com from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $14.00 to $9.00 in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.21.

LegalZoom.com Trading Up 1.5 %

Shares of NASDAQ LZ opened at $5.95 on Wednesday. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $15.68. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 54.10, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. The firm has a 50 day moving average of $8.67 and a 200 day moving average of $10.69.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. LegalZoom.com had a net margin of 3.15% and a return on equity of 19.47%. The business had revenue of $174.21 million for the quarter, compared to analysts’ expectations of $174.87 million. Sell-side analysts predict that LegalZoom.com will post 0.24 EPS for the current year.

Institutional Trading of LegalZoom.com

Institutional investors and hedge funds have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC purchased a new stake in shares of LegalZoom.com during the 1st quarter worth approximately $135,000. New York State Teachers Retirement System raised its stake in LegalZoom.com by 686.8% during the fourth quarter. New York State Teachers Retirement System now owns 10,606 shares of the company’s stock valued at $120,000 after purchasing an additional 9,258 shares in the last quarter. Nomura Holdings Inc. bought a new position in LegalZoom.com during the fourth quarter valued at $120,000. Ameritas Investment Partners Inc. grew its stake 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 worth $178,000 after buying an additional 1,074 shares in the last quarter. Finally, Ascent Group LLC increased its holdings in shares of LegalZoom.com by 27.6% in the 1st quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock worth $182,000 after buying an additional 2,950 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.