LegalZoom.com (NASDAQ:LZ) Rating Lowered to Equal Weight at Barclays

LegalZoom.com (NASDAQ:LZ) was downgraded by investment analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Wednesday, Marketbeat.com reports.

A number of other research firms have also weighed in on LZ. JPMorgan Chase & Co. lowered LegalZoom.com from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $14.00 to $9.00 in a report on Wednesday. Raymond James assumed coverage on shares of LegalZoom.com in a research note on Wednesday, March 27th. They issued a “market perform” rating for the company. JMP Securities lowered shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Citigroup downgraded shares of LegalZoom.com from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $8.00 in a research report on Wednesday. Finally, Bank of America cut shares of LegalZoom.com from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $13.00 to $6.00 in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, LegalZoom.com currently has a consensus rating of “Hold” and a consensus price target of $11.21.

LegalZoom.com Trading Up 1.5 %

Shares of LZ stock opened at $5.95 on Wednesday. The firm has a fifty day simple moving average of $8.67 and a two-hundred day simple moving average of $10.69. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $15.68. The firm has a market capitalization of $1.12 billion, a PE ratio of 54.10, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LZ. Technology Crossover Management IX Ltd. raised its stake 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 valued at $185,278,000 after acquiring an additional 2,094,240 shares during the period. Wellington Management Group LLP raised its position in shares of LegalZoom.com by 21.0% in the third quarter. Wellington Management Group LLP now owns 1,198,461 shares of the company’s stock valued at $13,111,000 after purchasing an additional 208,030 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of LegalZoom.com by 15.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock valued at $11,833,000 after buying an additional 138,702 shares in the last quarter. Vanguard Group Inc. boosted 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 buying an additional 2,777,206 shares during the period. Finally, Hawk Ridge Capital Management LP grew its stake 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 valued at $64,798,000 after buying an additional 135,517 shares in the last quarter. 81.99% of the stock is 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.