LegalZoom.com (NASDAQ:LZ) Shares Gap Up Following Analyst Upgrade

LegalZoom.com, Inc. (NASDAQ:LZ) shares gapped up prior to trading on Thursday after Barclays raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $8.85, but opened at $9.66. Barclays currently has an equal weight rating on the stock. LegalZoom.com shares last traded at $10.28, with a volume of 628,157 shares changing hands.

Other analysts have also issued reports about the company. Morgan Stanley raised their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Monday, January 13th. UBS Group assumed coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Citigroup lifted their price target on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $9.19.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors have recently added to or reduced their stakes in LZ. Nisa Investment Advisors LLC lifted its position in LegalZoom.com by 179.8% during the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after buying an additional 3,919 shares in the last quarter. Quarry LP raised its position in LegalZoom.com by 83.4% in the third quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after purchasing an additional 3,732 shares during the period. State of Wyoming raised its position in LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock valued at $63,000 after purchasing an additional 2,475 shares during the period. Wexford Capital LP purchased a new stake in LegalZoom.com in the third quarter valued at $64,000. Finally, Creative Planning purchased a new stake in LegalZoom.com in the third quarter valued at $72,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Up 16.9 %

The company has a market cap of $1.79 billion, a PE ratio of 79.04, a P/E/G ratio of 1.73 and a beta of 1.13. The stock has a 50-day simple moving average of $8.44 and a 200 day simple moving average of $7.56.

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.