Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) Price Target at $9.79

LegalZoom.com, Inc. (NASDAQ:LZ) has earned a consensus rating of “Reduce” from the eight ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $8.67.

LZ has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. William Blair initiated coverage on LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating on the stock. Barclays upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $8.00 target price on shares of LegalZoom.com in a research report on Friday, November 8th. Finally, Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research report on Wednesday, July 31st.

LegalZoom.com Stock Performance

LegalZoom.com stock opened at $7.99 on Friday. The stock’s 50 day moving average price is $6.94 and its 200 day moving average price is $7.52. The firm has a market capitalization of $1.38 billion, a PE ratio of 63.08, a price-to-earnings-growth ratio of 1.89 and a beta of 1.06. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74.

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

Institutional Investors Weigh In On LegalZoom.com

A number of institutional investors have recently made changes to their positions in the company. Paloma Partners Management Co bought a new position in LegalZoom.com during the 3rd quarter worth $81,000. Edgestream Partners L.P. grew its stake in LegalZoom.com by 313.2% during the 3rd quarter. Edgestream Partners L.P. now owns 191,857 shares of the company’s stock worth $1,218,000 after buying an additional 145,425 shares during the last quarter. Walleye Capital LLC grew its stake in LegalZoom.com by 450.2% during the 3rd quarter. Walleye Capital LLC now owns 24,246 shares of the company’s stock worth $154,000 after buying an additional 19,839 shares during the last quarter. Quantbot Technologies LP bought a new position in LegalZoom.com during the 3rd quarter worth $508,000. Finally, Charles Schwab Investment Management Inc. grew its stake in LegalZoom.com by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,197,833 shares of the company’s stock worth $7,606,000 after buying an additional 32,085 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.