Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) Target Price at $9.79

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned an average recommendation of “Reduce” from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $8.79.

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday. William Blair started coverage on LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating for the company. Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a 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. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ opened at $8.42 on Friday. The business’s 50-day simple moving average is $6.87 and its 200-day simple moving average is $7.55. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74. The firm has a market cap of $1.46 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 (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. During the same quarter last year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts forecast that LegalZoom.com will post 0.24 earnings per share for the current year.

Institutional Trading of LegalZoom.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in shares of LegalZoom.com by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock worth $7,606,000 after buying an additional 32,085 shares during the period. Landscape Capital Management L.L.C. acquired a new position in LegalZoom.com during the third quarter worth $283,000. Intech Investment Management LLC bought a new position in shares of LegalZoom.com during the third quarter valued at $228,000. Citizens Financial Group Inc. RI acquired a new stake in shares of LegalZoom.com in the 3rd quarter valued at $3,112,000. Finally, Jennison Associates LLC bought a new stake in shares of LegalZoom.com in the 3rd quarter worth about $687,000. 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.