LegalZoom.com (NASDAQ:LZ) Earns Market Perform Rating from JMP Securities

JMP Securities reaffirmed their market perform rating on shares of LegalZoom.com (NASDAQ:LZ) in a research report released on Friday, Benzinga reports.

LZ has been the topic of a number of other research reports. Jefferies Financial Group upgraded shares of LegalZoom.com from a hold rating to a buy rating and set a $8.00 price objective on the stock in a research note on Wednesday, July 31st. Citigroup lowered shares of LegalZoom.com from a buy rating to a neutral rating and cut their target price 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 stock from $13.00 to $6.00 in a research note on Wednesday, July 10th. JPMorgan Chase & Co. dropped their price target on LegalZoom.com from $9.00 to $8.00 and set a neutral rating on the stock in a research note on Thursday, September 5th. Finally, Barclays lowered shares of LegalZoom.com from an overweight rating to an equal weight rating in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $9.79.

LegalZoom.com Stock Down 0.3 %

LZ stock opened at $6.75 on Friday. The stock has a market cap of $1.27 billion, a PE ratio of 61.36, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The firm’s 50-day simple moving average is $6.38 and its 200 day simple moving average is $9.23. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two 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 the consensus estimate of $0.09 by $0.01. The company had revenue of $177.36 million for the quarter, compared to analyst estimates of $172.92 million. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. LegalZoom.com’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.02 earnings per share. Equities analysts forecast that LegalZoom.com will post 0.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its stake in shares of LegalZoom.com by 8.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock worth $178,000 after purchasing an additional 1,074 shares in the last quarter. Amalgamated Bank raised its position in LegalZoom.com by 9.6% during the fourth quarter. Amalgamated Bank now owns 17,055 shares of the company’s stock valued at $193,000 after acquiring an additional 1,495 shares in the last quarter. Ascent Group LLC lifted its stake in LegalZoom.com by 27.6% in the first quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock valued at $182,000 after acquiring an additional 2,950 shares during the last quarter. Quarry LP grew its position in LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after acquiring an additional 3,406 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in LegalZoom.com by 31.5% in the first quarter. Principal Financial Group Inc. now owns 17,990 shares of the company’s stock worth $240,000 after acquiring an additional 4,305 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.