LegalZoom.com, Inc. (NASDAQ:LZ) Receives Consensus Rating of “Hold” from Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ) has been given a consensus rating of “Hold” by the ten analysts that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $9.06.

Several research analysts recently weighed in on the stock. Morgan Stanley upped their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Citigroup increased their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. UBS Group started coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. Finally, Barclays lifted their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th.

LegalZoom.com Stock Up 2.8 %

Shares of NASDAQ LZ opened at $8.91 on Tuesday. The stock’s 50-day simple moving average is $8.40 and its two-hundred day simple moving average is $7.53. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $13.74. The firm has a market capitalization of $1.54 billion, a P/E ratio of 68.54, a P/E/G ratio of 1.73 and a beta of 1.13.

Institutional Investors Weigh In On LegalZoom.com

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in LegalZoom.com by 14.5% during the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after buying an additional 2,574,700 shares during the period. Nuveen Asset Management LLC raised its stake in shares of LegalZoom.com by 297.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company’s stock valued at $8,799,000 after acquiring an additional 877,125 shares during the last quarter. Norges Bank purchased a new stake in shares of LegalZoom.com during the fourth quarter worth about $5,769,000. Ararat Capital Management LP grew its stake in shares of LegalZoom.com by 26.6% in the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock worth $24,396,000 after purchasing an additional 682,678 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in LegalZoom.com by 103.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock valued at $8,662,000 after purchasing an additional 585,734 shares during the period. 81.99% of the stock is currently owned by hedge funds and other 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.