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

LegalZoom.com, Inc. (NASDAQ:LZ) has received a consensus recommendation of “Reduce” from the nine research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.79.

Several analysts have recently issued reports on LZ shares. Citigroup increased their price objective on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 price objective on shares of LegalZoom.com in a research note on Friday, November 8th. Barclays upped their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Finally, William Blair initiated coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating on the stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. nVerses Capital LLC boosted its position in shares of LegalZoom.com by 16.2% in the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock valued at $100,000 after purchasing an additional 2,200 shares during the period. Quarry LP boosted its holdings in shares of LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after acquiring an additional 3,406 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after acquiring an additional 3,919 shares during the period. Lombard Odier Asset Management USA Corp raised its position in LegalZoom.com by 29.6% in the 2nd quarter. Lombard Odier Asset Management USA Corp now owns 22,795 shares of the company’s stock valued at $191,000 after purchasing an additional 5,208 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in LegalZoom.com by 43.8% during the 2nd quarter. Quest Partners LLC now owns 21,943 shares of the company’s stock worth $184,000 after purchasing an additional 6,682 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Price Performance

NASDAQ LZ opened at $7.82 on Monday. The company has a market cap of $1.35 billion, a P/E ratio of 60.16, a P/E/G ratio of 1.81 and a beta of 1.10. The stock has a 50-day moving average of $7.80 and a two-hundred day moving average of $7.15. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm had revenue of $168.60 million for the quarter, compared to the consensus estimate of $167.66 million. During the same period in the prior year, the firm earned $0.05 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, analysts anticipate that LegalZoom.com will post 0.25 EPS for the current fiscal year.

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.