LegalZoom.com, Inc. (NASDAQ:LZ) Receives $11.50 Consensus Target Price from Analysts

LegalZoom.com, Inc. (NASDAQ:LZ) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $11.50.

Several research analysts have recently weighed in on LZ shares. Weiss Ratings reissued a “hold (c)” rating on shares of LegalZoom.com in a research report on Monday, December 29th. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Citigroup lowered their price target on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Friday, November 21st. Barclays boosted their price objective on shares of LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Finally, Wall Street Zen cut shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st.

Insider Buying and Selling at LegalZoom.com

In related news, insider Nicole Miller sold 23,506 shares of the stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total transaction of $226,362.78. Following the transaction, the insider owned 868,627 shares of the company’s stock, valued at approximately $8,364,878.01. This represents a 2.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Noel Bertram Watson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $9.56, for a total transaction of $143,400.00. Following the sale, the chief financial officer owned 1,551,582 shares in the company, valued at $14,833,123.92. This trade represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors have recently added to or reduced their stakes in the business. Boston Partners purchased a new position in LegalZoom.com in the third quarter valued at approximately $20,686,000. Neumeier Poma Investment Counsel LLC acquired a new position in shares of LegalZoom.com in the 3rd quarter valued at $18,106,000. Qube Research & Technologies Ltd grew its position in shares of LegalZoom.com by 180.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,797,252 shares of the company’s stock valued at $16,014,000 after buying an additional 1,156,462 shares during the last quarter. Lazard Asset Management LLC lifted its position in LegalZoom.com by 507.3% in the second quarter. Lazard Asset Management LLC now owns 1,104,734 shares of the company’s stock valued at $9,842,000 after acquiring an additional 922,829 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in LegalZoom.com by 60.4% in the third quarter. JPMorgan Chase & Co. now owns 2,170,327 shares of the company’s stock valued at $22,528,000 after acquiring an additional 817,462 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ opened at $9.22 on Friday. The business’s 50 day moving average price is $9.80 and its 200-day moving average price is $9.94. The firm has a market capitalization of $1.63 billion, a PE ratio of 76.84, a P/E/G ratio of 1.55 and a beta of 1.22. LegalZoom.com has a 1 year low of $6.47 and a 1 year high of $12.40.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). LegalZoom.com had a return on equity of 9.91% and a net margin of 3.05%.The business had revenue of $190.16 million for the quarter, compared to analyst estimates of $183.27 million. During the same quarter in the previous year, the firm posted $0.17 earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts expect that LegalZoom.com will post 0.25 earnings per share for the current year.

About LegalZoom.com

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.