Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) Price Target at $8.81

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have earned an average recommendation of “Hold” from the ten brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $8.81.

Several equities analysts have recently issued reports on LZ shares. Morgan Stanley upped their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Monday, January 13th. UBS Group initiated coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They set a “neutral” rating and a $9.00 price target 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 report on Tuesday, November 26th. Barclays upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised LegalZoom.com from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $8.00 to $9.00 in a report on Monday, January 13th.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $8.43 on Friday. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74. The firm has a market cap of $1.46 billion, a P/E ratio of 64.85, a P/E/G ratio of 1.58 and a beta of 1.10. The firm has a 50-day simple moving average of $7.94 and a 200-day simple moving average of $7.13.

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in LegalZoom.com by 24.7% in the second quarter. American Century Companies Inc. now owns 228,273 shares of the company’s stock valued at $1,915,000 after buying an additional 45,202 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of LegalZoom.com by 25.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company’s stock valued at $10,806,000 after purchasing an additional 262,335 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of LegalZoom.com in the second quarter valued at approximately $115,000. Marshall Wace LLP purchased a new stake in shares of LegalZoom.com in the second quarter valued at approximately $1,784,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of LegalZoom.com in the second quarter valued at approximately $71,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.