JPMorgan Chase & Co. Downgrades LegalZoom.com (NASDAQ:LZ) to Neutral

LegalZoom.com (NASDAQ:LZ) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report issued on Wednesday, Marketbeat Ratings reports. They presently have a $9.00 price target on the stock, down from their prior price target of $14.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 51.26% from the company’s current price.

Several other research analysts also recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $14.00 price objective on shares of LegalZoom.com in a report on Friday, May 17th. Raymond James began coverage on shares of LegalZoom.com in a research note on Wednesday, March 27th. They issued a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $11.21.

LegalZoom.com Stock Up 1.5 %

LegalZoom.com stock opened at $5.95 on Wednesday. The firm has a 50 day moving average price of $8.67 and a 200-day moving average price of $10.69. The company has a market capitalization of $1.12 billion, a P/E ratio of 54.10, a P/E/G ratio of 2.88 and a beta of 1.10. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $15.68.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, hitting the consensus estimate of $0.03. The company had revenue of $174.21 million during the quarter, compared to the consensus estimate of $174.87 million. LegalZoom.com had a net margin of 3.15% and a return on equity of 19.47%. Equities analysts expect that LegalZoom.com will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

Large investors have recently added to or reduced their stakes in the business. Technology Crossover Management IX Ltd. raised its position in LegalZoom.com by 14.6% in the 4th quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after purchasing an additional 2,094,240 shares during the period. Wellington Management Group LLP grew its holdings in LegalZoom.com by 21.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,198,461 shares of the company’s stock worth $13,111,000 after acquiring an additional 208,030 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in LegalZoom.com by 15.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock worth $11,833,000 after acquiring an additional 138,702 shares during the last quarter. Vanguard Group Inc. grew its holdings in LegalZoom.com by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after acquiring an additional 2,777,206 shares during the last quarter. Finally, Hawk Ridge Capital Management LP grew its holdings in LegalZoom.com by 2.4% in the 4th quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after acquiring an additional 135,517 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.