LegalZoom.com, Inc. (NASDAQ:LZ) Given Consensus Rating of “Hold” by Analysts

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned a consensus rating of “Hold” from the nine ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $9.19.

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. Barclays lifted their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ opened at $7.31 on Wednesday. The company has a market capitalization of $1.29 billion, a PE ratio of 56.24, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. The company’s fifty day moving average price is $9.10 and its 200 day moving average price is $8.13. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.36.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in LegalZoom.com by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock valued at $7,606,000 after acquiring an additional 32,085 shares during the period. Walleye Capital LLC lifted its stake in shares of LegalZoom.com by 450.2% in the 3rd quarter. Walleye Capital LLC now owns 24,246 shares of the company’s stock worth $154,000 after acquiring an additional 19,839 shares during the period. Quarry LP boosted its stake in LegalZoom.com by 83.4% during the third quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after buying an additional 3,732 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of LegalZoom.com in the 3rd quarter worth approximately $143,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of LegalZoom.com by 37.0% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 170,181 shares of the company’s stock worth $1,081,000 after acquiring an additional 45,941 shares in the last quarter. 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.