LegalZoom.com (NASDAQ:LZ) Shares Gap Down – Should You Sell?

LegalZoom.com, Inc. (NASDAQ:LZ)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $9.22, but opened at $8.58. LegalZoom.com shares last traded at $8.59, with a volume of 157,468 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LZ shares. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 target price on shares of LegalZoom.com in a research report on Friday. William Blair started coverage on LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating on the stock. Finally, Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, LegalZoom.com currently has an average rating of “Hold” and a consensus price target of $9.79.

LegalZoom.com Stock Down 6.9 %

The firm has a 50 day moving average of $6.80 and a two-hundred day moving average of $7.66. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 65.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.06.

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

Institutional Trading of LegalZoom.com

A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its position in shares of LegalZoom.com by 97.2% during the 3rd quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock valued at $824,000 after purchasing an additional 63,980 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in shares of LegalZoom.com during the 3rd quarter valued at $1,429,000. Robeco Institutional Asset Management B.V. boosted its stake in LegalZoom.com by 72.1% during the third quarter. Robeco Institutional Asset Management B.V. now owns 22,278 shares of the company’s stock worth $141,000 after acquiring an additional 9,330 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in LegalZoom.com by 179.8% in the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after purchasing an additional 3,919 shares during the period. Finally, nVerses Capital LLC raised its holdings in shares of LegalZoom.com by 16.2% during the third quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock valued at $100,000 after purchasing an additional 2,200 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.