LegalZoom.com (NASDAQ:LZ) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of LegalZoom.com (NASDAQ:LZ) from a strong-buy rating to a buy rating in a research report report published on Saturday morning.

A number of other research analysts also recently issued reports on the company. Bank of America upgraded LegalZoom.com from an “underperform” rating to a “buy” rating and boosted their price target for the company from $8.00 to $12.00 in a report on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on LegalZoom.com from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Weiss Ratings restated a “hold (c-)” rating on shares of LegalZoom.com in a report on Wednesday, October 8th. Citigroup lifted their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, August 25th. Finally, Barclays upped their price objective on shares of LegalZoom.com from $9.00 to $10.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and an average price target of $10.83.

LegalZoom.com Stock Up 0.3%

NASDAQ:LZ opened at $9.97 on Friday. The firm has a market capitalization of $1.80 billion, a P/E ratio of 62.32, a P/E/G ratio of 3.06 and a beta of 1.23. The company has a fifty day moving average of $10.46 and a 200 day moving average of $9.44. LegalZoom.com has a 52 week low of $6.47 and a 52 week high of $11.93.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.15. The business had revenue of $192.51 million for the quarter, compared to analyst estimates of $182.49 million. LegalZoom.com had a net margin of 4.07% and a return on equity of 20.36%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 EPS. LegalZoom.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that LegalZoom.com will post 0.25 EPS for the current year.

Insider Activity

In related news, insider Nicole Miller sold 25,154 shares of LegalZoom.com stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $10.82, for a total transaction of $272,166.28. Following the completion of the transaction, the insider directly owned 960,032 shares of the company’s stock, valued at $10,387,546.24. This trade represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Noel Bertram Watson sold 27,319 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33. Following the sale, the chief financial officer directly owned 1,676,426 shares in the company, valued at $18,558,035.82. The trade was a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 109,859 shares of company stock worth $1,193,100. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On LegalZoom.com

Large investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC purchased a new position in LegalZoom.com during the first quarter valued at $281,000. Harbor Capital Advisors Inc. increased its holdings in shares of LegalZoom.com by 92.2% during the second quarter. Harbor Capital Advisors Inc. now owns 928,183 shares of the company’s stock valued at $8,270,000 after acquiring an additional 445,343 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of LegalZoom.com by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 46,857 shares of the company’s stock valued at $403,000 after acquiring an additional 16,430 shares in the last quarter. Mackenzie Financial Corp raised its position in shares of LegalZoom.com by 104.9% in the 1st quarter. Mackenzie Financial Corp now owns 172,304 shares of the company’s stock worth $1,484,000 after purchasing an additional 88,218 shares during the last quarter. Finally, Nuveen LLC bought a new position in LegalZoom.com in the 1st quarter worth about $18,585,000. 81.99% of the stock is currently owned by hedge funds and other 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.