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

LegalZoom.com, Inc. (NASDAQ:LZ) has been given a consensus recommendation of “Reduce” by the eight research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.93.

A number of equities analysts recently commented on the company. JMP Securities cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 10th. Citigroup downgraded LegalZoom.com from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $8.00 in a research note on Wednesday, July 10th. Barclays cut LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th. Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered shares of LegalZoom.com from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $14.00 to $9.00 in a research report on Wednesday, July 10th.

LegalZoom.com Trading Down 1.0 %

NASDAQ:LZ opened at $6.55 on Tuesday. The stock has a market capitalization of $1.23 billion, a PE ratio of 59.55, a P/E/G ratio of 4.44 and a beta of 1.10. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74. The firm has a fifty day simple moving average of $6.91 and a 200 day simple moving average of $9.71.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $177.36 million during the quarter, compared to analysts’ expectations of $172.92 million. LegalZoom.com had a net margin of 3.15% and a return on equity of 19.47%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share. On average, equities analysts predict that LegalZoom.com will post 0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On LegalZoom.com

A number of institutional investors have recently modified their holdings of LZ. Vanguard Group Inc. boosted its stake in shares of LegalZoom.com by 7.3% in the first quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock valued at $225,918,000 after buying an additional 1,158,252 shares during the period. Technology Crossover Management IX Ltd. lifted its position in shares of LegalZoom.com by 14.6% during the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock valued at $185,278,000 after acquiring an additional 2,094,240 shares during the period. Hawk Ridge Capital Management LP grew its holdings in shares of LegalZoom.com by 2.4% during the 4th quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after purchasing an additional 135,517 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of LegalZoom.com by 15.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after purchasing an additional 762,612 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of LegalZoom.com by 5.4% in the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock worth $51,177,000 after purchasing an additional 195,512 shares during the period. 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.