LegalZoom.com, Inc. (NASDAQ:LZ) Receives $9.79 Consensus Price Target from Analysts

LegalZoom.com, Inc. (NASDAQ:LZ) has been given an average rating of “Reduce” by the nine ratings firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $9.79.

Several brokerages recently weighed in on LZ. Citigroup cut shares of LegalZoom.com from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $8.00 in a research report on Wednesday, July 10th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Bank of America downgraded shares of LegalZoom.com from a “buy” rating to an “underperform” rating and reduced their target price for the company from $13.00 to $6.00 in a research note on Wednesday, July 10th. Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Wednesday, July 31st. Finally, Barclays downgraded shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LZ. Quarry LP raised its position in LegalZoom.com by 318.9% during the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after purchasing an additional 3,406 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in LegalZoom.com in the second quarter worth about $71,000. Counterpoint Mutual Funds LLC bought a new position in LegalZoom.com during the 1st quarter worth about $135,000. Nomura Holdings Inc. purchased a new position in LegalZoom.com during the 4th quarter valued at about $120,000. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of LegalZoom.com by 8.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock valued at $178,000 after purchasing an additional 1,074 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Down 2.0 %

LZ opened at $6.51 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of 59.18, a price-to-earnings-growth ratio of 2.08 and a beta of 1.10. The firm has a 50-day simple moving average of $6.40 and a two-hundred day simple moving average of $8.94. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $172.92 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue was up 5.0% on a year-over-year basis. As a group, sell-side analysts expect that LegalZoom.com will post 0.23 earnings per share for the current year.

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.