LegalZoom.com’s (LZ) “Market Perform” Rating Reaffirmed at JMP Securities

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating reaffirmed by investment analysts at JMP Securities in a note issued to investors on Friday,Benzinga reports.

Several other analysts have also weighed in on LZ. UBS Group initiated coverage on 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 LegalZoom.com from an “underweight” rating to an “overweight” rating and upped their target price for the company from $8.00 to $9.00 in a report on Monday, January 13th. Morgan Stanley upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Barclays upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Citigroup upped their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, LegalZoom.com has a consensus rating of “Hold” and an average target price of $8.81.

LegalZoom.com Stock Down 0.4 %

LZ stock traded down $0.04 during trading on Friday, reaching $9.13. 859,485 shares of the company’s stock were exchanged, compared to its average volume of 1,623,976. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74. The company’s fifty day moving average price is $8.05 and its 200-day moving average price is $7.20. The firm has a market cap of $1.58 billion, a PE ratio of 70.27, a P/E/G ratio of 1.73 and a beta of 1.10.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its holdings in shares of LegalZoom.com by 308.5% during the 3rd quarter. Barclays PLC now owns 224,782 shares of the company’s stock valued at $1,427,000 after acquiring an additional 169,761 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in LegalZoom.com during the 3rd quarter valued at approximately $1,429,000. JPMorgan Chase & Co. boosted its stake in LegalZoom.com by 14.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock valued at $3,605,000 after purchasing an additional 71,291 shares during the period. Victory Capital Management Inc. boosted its stake in LegalZoom.com by 97.2% during the 3rd quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock valued at $824,000 after purchasing an additional 63,980 shares during the period. Finally, Citizens Financial Group Inc. RI bought a new stake in LegalZoom.com during the 3rd quarter valued at approximately $3,112,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.