LegalZoom.com (NASDAQ:LZ) Shares Gap Up After Analyst Upgrade

LegalZoom.com, Inc. (NASDAQ:LZ) gapped up prior to trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $9.00 to $11.00. The stock had previously closed at $9.22, but opened at $9.47. JPMorgan Chase & Co. currently has an overweight rating on the stock. LegalZoom.com shares last traded at $9.41, with a volume of 159,174 shares changing hands.

LZ has been the subject of a number of other research reports. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, January 31st. UBS Group initiated coverage on shares of LegalZoom.com in a research report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. Citigroup upped their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Finally, Barclays increased their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LegalZoom.com has an average rating of “Hold” and a consensus target price of $9.06.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LZ. Vanguard Group Inc. lifted its stake in shares of LegalZoom.com by 14.5% in the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after purchasing an additional 2,574,700 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of LegalZoom.com by 4.5% in the third quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock worth $20,310,000 after buying an additional 132,189 shares during the last quarter. Tabor Asset Management LP boosted its stake in shares of LegalZoom.com by 44.9% during the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after acquiring an additional 472,002 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of LegalZoom.com by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,232,747 shares of the company’s stock valued at $9,258,000 after acquiring an additional 34,914 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of LegalZoom.com by 14.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock valued at $3,605,000 after acquiring an additional 71,291 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Stock Up 0.9 %

The business has a 50-day simple moving average of $8.24 and a 200-day simple moving average of $7.35. The stock has a market cap of $1.61 billion, a P/E ratio of 71.54, a PEG ratio of 1.76 and a beta of 1.13.

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.