LegalZoom.com’s (LZ) “Underweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their underweight rating on shares of LegalZoom.com (NASDAQ:LZ) in a report published on Friday morning, Marketbeat Ratings reports. They currently have a $8.00 target price on the stock.

Several other equities research analysts have also issued reports on the company. William Blair initiated coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating for the company. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Finally, Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, LegalZoom.com has a consensus rating of “Hold” and an average target price of $9.79.

LegalZoom.com Trading Down 7.9 %

LZ stock traded down $0.73 during trading on Friday, reaching $8.49. 1,761,894 shares of the stock were exchanged, compared to its average volume of 903,620. The firm has a market cap of $1.49 billion, a P/E ratio of 65.31, a price-to-earnings-growth ratio of 2.50 and a beta of 1.06. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $13.74. The firm’s 50 day moving average is $6.83 and its 200 day moving average is $7.64.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $177.36 million during the quarter, compared to analysts’ expectations of $172.92 million. LegalZoom.com had a return on equity of 28.39% and a net margin of 3.61%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, analysts predict that LegalZoom.com will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of LegalZoom.com

Large investors have recently bought and sold shares of the business. Quarry LP grew its position in LegalZoom.com by 318.9% during the second quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after acquiring an additional 3,406 shares during the period. Nisa Investment Advisors LLC boosted its holdings in LegalZoom.com by 179.8% in the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after purchasing an additional 3,919 shares during the last quarter. Point72 DIFC Ltd purchased a new position in LegalZoom.com in the second quarter valued at about $71,000. Creative Planning purchased a new position in LegalZoom.com in the third quarter valued at about $72,000. Finally, nVerses Capital LLC lifted its holdings in LegalZoom.com by 16.2% during the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds 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.