LegalZoom.com (NASDAQ:LZ) Earns Market Perform Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of LegalZoom.com (NASDAQ:LZ) in a research note published on Friday, Benzinga reports.

LZ has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price target on LegalZoom.com from $9.00 to $8.00 and set a neutral rating for the company in a research note on Thursday, September 5th. Bank of America lowered shares of LegalZoom.com from a buy rating to an underperform rating and reduced their price target for the company from $13.00 to $6.00 in a research report 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 target for the company in a research report on Wednesday, July 31st. Citigroup lowered shares of LegalZoom.com from a buy rating to a neutral rating and reduced their price target for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Finally, Barclays lowered shares of LegalZoom.com from an overweight rating to an equal weight rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, LegalZoom.com currently has a consensus rating of Hold and an average price target of $9.79.

LegalZoom.com Stock Performance

NASDAQ LZ opened at $6.77 on Friday. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74. The stock has a 50-day moving average of $6.40 and a 200 day moving average of $9.27. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 61.55, a PEG ratio of 2.03 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The company had revenue of $177.36 million during the quarter, compared to the consensus estimate of $172.92 million. During the same period last year, the company earned $0.02 EPS. LegalZoom.com’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities analysts predict that LegalZoom.com will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Technology Crossover Management IX Ltd. grew its stake 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. Charles Schwab Investment Management Inc. boosted its stake in LegalZoom.com by 15.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock worth $11,833,000 after purchasing an additional 138,702 shares during the period. Blair William & Co. IL boosted its stake in LegalZoom.com by 5.4% in the 1st 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. Vanguard Group Inc. boosted its stake in LegalZoom.com by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after purchasing an additional 2,777,206 shares during the period. Finally, Hawk Ridge Capital Management LP boosted its stake in LegalZoom.com by 2.4% in 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 during the period. 81.99% of the stock is currently 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.