LegalZoom.com, Inc. (NASDAQ:LZ) Receives Average Rating of “Hold” from Analysts

LegalZoom.com, Inc. (NASDAQ:LZ) has received a consensus recommendation of “Hold” from the ten brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $9.19.

A number of research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Tuesday, February 11th. Citigroup boosted their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. UBS Group started coverage on shares of LegalZoom.com in a research report on Friday, December 6th. They set a “neutral” rating and a $9.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th.

LegalZoom.com Stock Performance

NASDAQ LZ opened at $9.53 on Friday. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 73.31, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. The company’s 50-day simple moving average is $9.01 and its two-hundred day simple moving average is $7.92. LegalZoom.com has a one year low of $5.33 and a one year high of $13.58.

Institutional Investors Weigh In On LegalZoom.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC grew its holdings in shares of LegalZoom.com by 308.5% during the third quarter. Barclays PLC now owns 224,782 shares of the company’s stock valued at $1,427,000 after purchasing an additional 169,761 shares during the last quarter. Pathway Capital Management LP acquired a new position in shares of LegalZoom.com in the fourth quarter worth $2,387,000. JPMorgan Chase & Co. increased its position in LegalZoom.com by 14.4% during the third quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock worth $3,605,000 after buying an additional 71,291 shares during the last quarter. Oak Harvest Investment Services acquired a new stake in shares of LegalZoom.com in the fourth quarter valued at about $751,000. Finally, Citizens Financial Group Inc. RI lifted its stake in shares of LegalZoom.com by 11.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company’s stock valued at $4,096,000 after buying an additional 55,336 shares during the period. 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.