LegalZoom.com (NASDAQ:LZ) Given New $8.00 Price Target at Barclays

LegalZoom.com (NASDAQ:LZ) had its target price lifted by Barclays from $7.00 to $8.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other brokerages also recently weighed in on LZ. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $8.00 target price on shares of LegalZoom.com in a report on Friday. William Blair began coverage on LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and an average price target of $8.79.

LegalZoom.com Stock Down 1.2 %

NASDAQ:LZ opened at $8.39 on Monday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 64.54, a P/E/G ratio of 2.61 and a beta of 1.06. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $13.74. The stock’s 50 day moving average price is $6.87 and its two-hundred day moving average price is $7.55.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. During the same quarter last year, the company earned $0.05 EPS. The company’s revenue was up .8% on a year-over-year basis. Equities research analysts expect that LegalZoom.com will post 0.24 EPS for the current year.

Hedge Funds Weigh In On LegalZoom.com

Several institutional investors have recently bought and sold shares of LZ. Ameritas Investment Partners Inc. raised its holdings in LegalZoom.com by 8.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock valued at $178,000 after acquiring an additional 1,074 shares during the period. nVerses Capital LLC increased its holdings in shares of LegalZoom.com by 16.2% in the third quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after purchasing an additional 2,200 shares during the period. Ascent Group LLC increased its holdings in shares of LegalZoom.com by 27.6% in the first quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock worth $182,000 after purchasing an additional 2,950 shares during the period. Quarry LP increased its holdings in shares of LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after purchasing an additional 3,406 shares during the period. Finally, Nisa Investment Advisors LLC increased its holdings in shares of LegalZoom.com by 179.8% in the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after purchasing an additional 3,919 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.