LegalZoom.com (NASDAQ:LZ) Price Target Raised to $8.50

LegalZoom.com (NASDAQ:LZ) had its target price boosted by Citigroup from $7.00 to $8.50 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $8.00 price target on shares of LegalZoom.com in a research note on Friday, November 8th. William Blair assumed coverage on LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating on the stock. Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Wednesday, July 31st. Barclays lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $8.75.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $7.94 on Tuesday. The stock has a 50 day moving average of $7.19 and a two-hundred day moving average of $7.28. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $13.74. The firm has a market cap of $1.37 billion, a P/E ratio of 61.08, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm had revenue of $168.60 million during the quarter, compared to analysts’ expectations of $167.66 million. During the same period in the previous year, the business earned $0.05 earnings per share. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts forecast that LegalZoom.com will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of LegalZoom.com by 7.3% during the first quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after buying an additional 1,158,252 shares during the period. Westwood Holdings Group Inc. boosted its holdings in LegalZoom.com by 15.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock valued at $46,827,000 after acquiring an additional 762,612 shares during the period. Renaissance Technologies LLC grew its position in LegalZoom.com by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after acquiring an additional 521,200 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new stake in LegalZoom.com during the third quarter worth about $3,112,000. Finally, Tabor Asset Management LP lifted its position in shares of LegalZoom.com by 44.9% during the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after purchasing an additional 472,002 shares in the last quarter. 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.