LegalZoom.com, Inc. (NASDAQ:LZ) Receives $9.79 Average Price Target from Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have earned an average rating of “Reduce” from the nine analysts 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 one has given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $9.79.

A number of brokerages have weighed in on LZ. Barclays lowered LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Wednesday, July 31st. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Bank of America cut LegalZoom.com from a “buy” rating to an “underperform” rating and lowered their price target for the company from $13.00 to $6.00 in a report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut their price objective on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Thursday, September 5th.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock opened at $6.51 on Friday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 59.18, a PEG ratio of 2.08 and a beta of 1.10. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.74. The firm’s 50-day moving average is $6.40 and its 200 day moving average is $8.94.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $177.36 million for the quarter, compared to analysts’ expectations of $172.92 million. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. On average, equities analysts expect that LegalZoom.com will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LZ. Vanguard Group Inc. increased its stake in shares of LegalZoom.com by 21.4% in the fourth quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after purchasing an additional 2,777,206 shares in the last quarter. Technology Crossover Management IX Ltd. increased its stake in LegalZoom.com by 14.6% in the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after buying an additional 2,094,240 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in LegalZoom.com by 62.0% during the first quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock valued at $64,282,000 after acquiring an additional 1,843,427 shares during the period. Wellington Management Group LLP lifted its position in shares of LegalZoom.com by 64.7% in the fourth quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock valued at $22,309,000 after acquiring an additional 775,775 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of LegalZoom.com by 26.8% in the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after acquiring an additional 521,200 shares during the period. 81.99% of the stock is owned by hedge funds and other 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.