Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) Target Price at $8.79

LegalZoom.com, Inc. (NASDAQ:LZ) has received a consensus rating of “Reduce” from the nine analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $8.79.

A number of equities analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. William Blair started coverage on LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating on the stock. Citigroup upped 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. Finally, UBS Group began coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock.

LegalZoom.com Stock Performance

LZ opened at $7.51 on Monday. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 57.77, a PEG ratio of 1.81 and a beta of 1.10. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74. The business’s fifty day moving average is $7.83 and its two-hundred day moving average is $7.14.

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, beating the consensus estimate 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 the consensus estimate of $167.66 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, analysts predict that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. nVerses Capital LLC boosted its stake in shares of LegalZoom.com by 16.2% during the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock valued at $100,000 after buying an additional 2,200 shares during the last quarter. Quarry LP boosted its stake in LegalZoom.com by 318.9% during the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after acquiring an additional 3,406 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake 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 acquiring an additional 3,919 shares during the last quarter. Lombard Odier Asset Management USA Corp grew its holdings in LegalZoom.com by 29.6% during the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 22,795 shares of the company’s stock worth $191,000 after acquiring an additional 5,208 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of LegalZoom.com by 43.8% in the 2nd quarter. Quest Partners LLC now owns 21,943 shares of the company’s stock worth $184,000 after purchasing an additional 6,682 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.