LegalZoom.com (NASDAQ:LZ) Given New $8.00 Price Target at Morgan Stanley

LegalZoom.com (NASDAQ:LZ) had its target price upped by stock analysts at Morgan Stanley from $7.00 to $8.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 1.01% from the company’s previous close.

LZ has been the topic of a number of other reports. Barclays boosted their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. UBS Group started coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. JPMorgan Chase & Co. raised shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and raised their target price for the company from $8.00 to $9.00 in a research note on Monday. William Blair assumed coverage on shares of LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating on the stock. Finally, Citigroup increased their price objective on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $8.81.

LegalZoom.com Price Performance

Shares of NASDAQ LZ opened at $7.92 on Monday. The stock has a market cap of $1.37 billion, a PE ratio of 60.93, a price-to-earnings-growth ratio of 1.81 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 moving average price of $7.95 and a 200-day moving average price of $7.11.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business had revenue of $168.60 million during the quarter, compared to analyst estimates of $167.66 million. During the same quarter in the prior year, the business posted $0.05 EPS. LegalZoom.com’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts expect that LegalZoom.com will post 0.25 EPS for the current year.

Institutional Trading of LegalZoom.com

A number of large investors have recently made changes to their positions in LZ. nVerses Capital LLC lifted its holdings 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 acquiring an additional 2,200 shares during the last quarter. Quarry LP increased its stake in LegalZoom.com by 318.9% during the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after acquiring an additional 3,406 shares during the last quarter. Nisa Investment Advisors LLC raised its position in LegalZoom.com by 179.8% during the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after purchasing an additional 3,919 shares during the period. Lombard Odier Asset Management USA Corp lifted its stake in shares of 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 holdings in shares of LegalZoom.com by 43.8% in 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. 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.