Morgan Stanley Issues Positive Forecast for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its target price boosted by Morgan Stanley from $7.00 to $8.00 in a research report released on Monday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

LZ has been the subject of a number of other reports. Citigroup lifted their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Barclays lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group assumed coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They set a “neutral” rating and a $9.00 price target on the stock. JPMorgan Chase & Co. raised shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and upped their target price for the stock from $8.00 to $9.00 in a research note on Monday. Finally, William Blair began coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.81.

LegalZoom.com Price Performance

NASDAQ:LZ opened at $8.05 on Monday. The company’s 50-day moving average is $7.95 and its two-hundred day moving average is $7.11. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 61.93, a PEG ratio of 1.81 and a beta of 1.10. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The company had revenue of $168.60 million during the quarter, compared to analyst estimates of $167.66 million. During the same period in the prior year, the business posted $0.05 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities analysts anticipate that LegalZoom.com will post 0.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LZ. Quarry LP lifted its stake in LegalZoom.com by 318.9% in the second quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after buying an additional 3,406 shares during the last quarter. Nisa Investment Advisors LLC raised its position in LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after purchasing an additional 3,919 shares during the last quarter. Wexford Capital LP acquired a new stake in LegalZoom.com during the 3rd quarter worth $64,000. Point72 DIFC Ltd acquired a new stake in LegalZoom.com during the 2nd quarter worth $71,000. Finally, Creative Planning purchased a new position in LegalZoom.com during the 3rd quarter worth $72,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.