Morgan Stanley Increases LegalZoom.com (NASDAQ:LZ) Price Target to $8.00

LegalZoom.com (NASDAQ:LZ) had its price objective hoisted by Morgan Stanley from $7.00 to $8.00 in a report published on Monday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages also recently weighed in on LZ. William Blair assumed coverage on shares of LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating on the stock. Barclays boosted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Citigroup raised their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. upgraded LegalZoom.com from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $8.00 to $9.00 in a research note on Monday. Finally, UBS Group assumed coverage on LegalZoom.com in a research report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and an average target price of $8.81.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $7.88 on Monday. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74. The firm has a 50-day moving average price of $7.94 and a two-hundred day moving average price of $7.11. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 60.62, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last issued 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 return on equity of 32.88% and a net margin of 3.61%. The company had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. During the same period last year, the business posted $0.05 earnings per share. LegalZoom.com’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts forecast that LegalZoom.com will post 0.25 earnings per share for the current year.

Institutional Trading of LegalZoom.com

A number of institutional investors have recently added to or reduced their stakes in LZ. Westwood Holdings Group Inc. raised its position in shares of LegalZoom.com by 15.8% in the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after buying an additional 762,612 shares in the last quarter. Renaissance Technologies LLC increased its stake in LegalZoom.com by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after acquiring an additional 521,200 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new stake in shares of LegalZoom.com in the 3rd quarter valued at about $3,112,000. Tabor Asset Management LP boosted its position in shares of LegalZoom.com by 44.9% during the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock valued at $9,669,000 after acquiring an additional 472,002 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of LegalZoom.com by 25.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company’s stock worth $10,806,000 after purchasing an additional 262,335 shares in the last quarter. Hedge funds and other 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.