JPMorgan Chase & Co. Forecasts Strong Price Appreciation for LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com (NASDAQ:LZ) had its price objective upped by analysts at JPMorgan Chase & Co. from $11.00 to $12.00 in a report issued on Monday. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 28.66% from the stock’s previous close.

A number of other equities research analysts have also weighed in on LZ. William Blair restated a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Morgan Stanley lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research note on Thursday. Finally, Barclays raised their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $8.64.

LegalZoom.com Stock Performance

LegalZoom.com stock traded up $0.04 during midday trading on Monday, hitting $9.33. 313,626 shares of the company’s stock were exchanged, compared to its average volume of 1,817,647. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $10.60. The stock has a 50-day moving average price of $8.16 and a two-hundred day moving average price of $8.32. The company has a market cap of $1.69 billion, a P/E ratio of 71.97, a PEG ratio of 1.73 and a beta of 1.14.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, meeting the consensus estimate of $0.13. The firm had revenue of $183.11 million for the quarter, compared to analyst estimates of $176.17 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The company’s revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 EPS. As a group, sell-side analysts expect that LegalZoom.com will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Pathway Capital Management LP acquired a new position in shares of LegalZoom.com in the 4th quarter valued at about $2,387,000. Oak Harvest Investment Services purchased a new position in LegalZoom.com in the fourth quarter worth approximately $751,000. Citizens Financial Group Inc. RI grew its position in LegalZoom.com by 11.3% in the fourth quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company’s stock worth $4,096,000 after acquiring an additional 55,336 shares during the period. SG Americas Securities LLC grew its position in LegalZoom.com by 44.8% in the fourth quarter. SG Americas Securities LLC now owns 90,104 shares of the company’s stock worth $677,000 after acquiring an additional 27,867 shares during the period. Finally, State of Tennessee Department of Treasury purchased a new position in shares of LegalZoom.com during the fourth quarter worth $270,000. 81.99% of the stock is owned by institutional investors.

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.