LegalZoom.com, Inc. (NASDAQ:LZ) Given Average Rating of “Hold” by Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been given a consensus rating of “Hold” by the ten research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $9.06.

Several research analysts have recently commented on LZ shares. 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 objective on the stock. Morgan Stanley lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Citigroup lifted their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Barclays lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th.

LegalZoom.com Stock Down 2.0 %

NASDAQ LZ opened at $8.67 on Tuesday. The stock’s 50-day moving average price is $8.38 and its 200-day moving average price is $7.50. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74. The company has a market capitalization of $1.50 billion, a P/E ratio of 66.70, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

Hedge Funds Weigh In On LegalZoom.com

Several institutional investors have recently added to or reduced their stakes in LZ. Nisa Investment Advisors LLC grew its holdings in LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after buying an additional 3,919 shares in the last quarter. Quarry LP boosted its holdings in shares of LegalZoom.com by 83.4% in the 3rd quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after purchasing an additional 3,732 shares during the period. State of Wyoming boosted its holdings in shares of LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after purchasing an additional 2,475 shares during the period. Wexford Capital LP purchased a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $64,000. Finally, Creative Planning purchased a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $72,000. Hedge funds and other institutional investors 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.