LegalZoom.com, Inc. (NASDAQ:LZ) Given Average Rating of “Reduce” by Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ) has been given an average recommendation of “Reduce” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $9.79.

A number of equities analysts have weighed in on LZ shares. JPMorgan Chase & Co. reduced their price objective on LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Wednesday, July 31st. Citigroup lowered LegalZoom.com from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $8.00 in a research note on Wednesday, July 10th. Bank of America lowered LegalZoom.com from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $13.00 to $6.00 in a research note on Wednesday, July 10th. Finally, William Blair initiated coverage on LegalZoom.com in a research note on Monday, September 16th. They set a “market perform” rating for the company.

LegalZoom.com Price Performance

Shares of LZ stock opened at $6.47 on Friday. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 58.82, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The business has a fifty day moving average of $6.41 and a 200 day moving average of $8.88. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $177.36 million during the quarter, compared to analyst estimates of $172.92 million. LegalZoom.com had a return on equity of 22.36% and a net margin of 3.10%. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter last year, the business posted $0.02 EPS. As a group, equities research analysts expect that LegalZoom.com will post 0.23 earnings per share for the current year.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in LegalZoom.com by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after buying an additional 1,158,252 shares during the last quarter. Technology Crossover Management IX Ltd. boosted its holdings 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 buying an additional 2,094,240 shares during the last quarter. Hawk Ridge Capital Management LP boosted its holdings in shares of LegalZoom.com by 2.4% during the 4th 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 during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of 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 purchasing an additional 762,612 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of LegalZoom.com by 5.4% during the 1st 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 during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.