LegalZoom.com, Inc. (NASDAQ:LZ) Receives $8.75 Average Price Target from Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been given a consensus rating of “Reduce” by the nine ratings firms that are covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $8.79.

A number of equities analysts have recently issued reports on the stock. William Blair started coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. UBS Group began coverage on shares of LegalZoom.com in a report on Friday. They issued a “neutral” rating and a $9.00 target price for the company. Barclays raised 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. Finally, Citigroup upped 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.

Hedge Funds Weigh In On LegalZoom.com

Institutional investors and hedge funds have recently made changes to their positions in the business. Westwood Holdings Group Inc. lifted its holdings in LegalZoom.com by 15.8% during the 2nd quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after buying an additional 762,612 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of LegalZoom.com by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after buying an additional 521,200 shares during the last quarter. Citizens Financial Group Inc. RI acquired a new stake in LegalZoom.com during the third quarter worth about $3,112,000. Tabor Asset Management LP lifted its holdings in LegalZoom.com by 44.9% in the third 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 during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in LegalZoom.com by 25.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company’s stock valued at $10,806,000 after acquiring an additional 262,335 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Up 1.9 %

Shares of LegalZoom.com stock opened at $8.20 on Thursday. The business has a 50-day moving average price of $7.39 and a 200 day moving average price of $7.23. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $13.74. The firm has a market cap of $1.42 billion, a PE ratio of 63.08, a P/E/G ratio of 1.84 and a beta of 1.10.

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