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

LegalZoom.com, Inc. (NASDAQ:LZ) has been given an average rating of “Hold” by the eight ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $9.9167.

A number of equities analysts recently weighed in on LZ shares. Barclays upped their target price on shares of LegalZoom.com from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded shares of LegalZoom.com from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 30th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, May 15th. Bank of America upgraded shares of LegalZoom.com from an “underperform” rating to a “buy” rating and increased their price objective for the company from $8.00 to $12.00 in a research report on Friday, August 8th. Finally, Morgan Stanley increased their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Friday, May 9th.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $10.72 on Tuesday. The firm has a fifty day moving average price of $9.11 and a 200 day moving average price of $8.84. LegalZoom.com has a fifty-two week low of $5.58 and a fifty-two week high of $11.93. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 67.00, a P/E/G ratio of 3.68 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Thursday, August 7th. The company reported $0.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.15. LegalZoom.com had a net margin of 4.07% and a return on equity of 20.36%. The firm had revenue of $192.51 million during the quarter, compared to analyst estimates of $182.49 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. LegalZoom.com’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts predict that LegalZoom.com will post 0.25 earnings per share for the current year.

Insider Buying and Selling at LegalZoom.com

In other news, Director John Francis Murphy sold 24,250 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.57, for a total value of $256,322.50. Following the sale, the director owned 69,953 shares of the company’s stock, valued at approximately $739,403.21. This represents a 25.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently made changes to their positions in LZ. Quantbot Technologies LP purchased a new position in LegalZoom.com in the 1st quarter worth about $29,000. EverSource Wealth Advisors LLC increased its stake in LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after buying an additional 4,140 shares during the period. State of Wyoming increased its stake in LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after buying an additional 2,475 shares during the period. Quantessence Capital LLC purchased a new position in LegalZoom.com in the 4th quarter worth about $78,000. Finally, Canada Pension Plan Investment Board purchased a new position in LegalZoom.com in the 2nd quarter worth about $78,000. 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.