William Blair Begins Coverage on LegalZoom.com (NASDAQ:LZ)

William Blair started coverage on shares of LegalZoom.com (NASDAQ:LZ) in a research report report published on Monday morning, MarketBeat Ratings reports. The brokerage issued a market perform rating on the stock.

Several other research firms have also commented on LZ. JPMorgan Chase & Co. reduced their price target on shares of LegalZoom.com from $9.00 to $8.00 and set a neutral rating on the stock in a research report on Thursday, September 5th. JMP Securities reaffirmed a market perform rating on shares of LegalZoom.com in a research report on Friday, September 13th. Citigroup lowered shares of LegalZoom.com from a buy rating to a neutral rating and reduced their price target for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. 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. Finally, Barclays lowered LegalZoom.com from an overweight rating to an equal weight rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, LegalZoom.com presently has a consensus rating of Hold and an average target price of $9.79.

LegalZoom.com Price Performance

LZ opened at $6.67 on Monday. The company’s 50 day simple moving average is $6.37 and its two-hundred day simple moving average is $9.17. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 60.64, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $177.36 million for the quarter, compared to analyst estimates of $172.92 million. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. On average, equities analysts anticipate that LegalZoom.com will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

Institutional investors have recently modified their holdings of the business. Technology Crossover Management IX Ltd. grew its stake in shares of LegalZoom.com by 14.6% in the fourth quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after acquiring an additional 2,094,240 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of LegalZoom.com by 15.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock worth $11,833,000 after purchasing an additional 138,702 shares in the last quarter. Blair William & Co. IL grew its stake in shares of LegalZoom.com by 5.4% during the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock worth $51,177,000 after purchasing an additional 195,512 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of LegalZoom.com by 21.4% during the fourth quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after purchasing an additional 2,777,206 shares in the last quarter. Finally, Hawk Ridge Capital Management LP grew its stake in shares of LegalZoom.com by 2.4% during the fourth quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after purchasing an additional 135,517 shares in the last quarter. Institutional investors and hedge funds 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.