Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) PT at $8.81

LegalZoom.com, Inc. (NASDAQ:LZ) has earned an average recommendation of “Hold” from the ten research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $8.81.

A number of equities research analysts recently weighed in on the company. Citigroup boosted 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. 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 note on Monday, January 13th. UBS Group initiated coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price objective for the company. JPMorgan Chase & Co. raised shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $8.00 to $9.00 in a report on Monday, January 13th. Finally, 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 note on Monday, November 11th.

LegalZoom.com Trading Up 2.8 %

Shares of NASDAQ LZ opened at $9.25 on Friday. The stock has a 50-day moving average price of $8.00 and a two-hundred day moving average price of $7.17. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $13.74. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 71.16, a PEG ratio of 1.58 and a beta of 1.10.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC increased its stake in LegalZoom.com by 16.2% in the third quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock valued at $100,000 after purchasing an additional 2,200 shares in the last quarter. Quarry LP grew its stake in shares of LegalZoom.com by 318.9% in the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after buying an additional 3,406 shares during the period. Nisa Investment Advisors LLC increased its position in LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after buying an additional 3,919 shares in the last quarter. Handelsbanken Fonder AB raised its stake in LegalZoom.com by 40.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 25,400 shares of the company’s stock worth $161,000 after buying an additional 7,300 shares during the period. Finally, Point72 DIFC Ltd bought a new position in LegalZoom.com in the second quarter worth approximately $71,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.