Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) Price Target at $9.79

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

Several analysts have recently weighed in on LZ shares. Barclays downgraded shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th. Bank of America lowered LegalZoom.com from a “buy” rating to an “underperform” rating and decreased their target price for the company from $13.00 to $6.00 in a research report on Wednesday, July 10th. William Blair assumed coverage on LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating on the stock. Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Wednesday, July 31st. Finally, Citigroup lowered shares of LegalZoom.com from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $15.00 to $8.00 in a research note on Wednesday, July 10th.

Hedge Funds Weigh In On LegalZoom.com

A number of large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of LegalZoom.com by 64.7% during the fourth quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock worth $22,309,000 after purchasing an additional 775,775 shares in the last quarter. Vanguard Group Inc. increased its position in LegalZoom.com by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after buying an additional 2,777,206 shares in the last quarter. Nomura Holdings Inc. acquired a new position in LegalZoom.com during the 4th quarter valued at about $120,000. FCF Advisors LLC purchased a new stake in LegalZoom.com in the first quarter valued at about $781,000. Finally, Counterpoint Mutual Funds LLC acquired a new stake in LegalZoom.com in the first quarter worth about $135,000. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Trading Up 1.3 %

Shares of LZ opened at $6.98 on Wednesday. The company’s fifty day simple moving average is $6.48 and its 200-day simple moving average is $8.11. The company has a market cap of $1.31 billion, a P/E ratio of 63.45, a P/E/G ratio of 2.03 and a beta of 1.10. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $13.74.

LegalZoom.com (NASDAQ:LZ) last issued 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 firm had revenue of $177.36 million for the quarter, compared to the consensus estimate of $172.92 million. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. Analysts predict that LegalZoom.com will post 0.23 earnings per share for the current fiscal year.

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.