Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) PT at $9.79

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned a consensus recommendation of “Reduce” from the nine analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $9.79.

Several equities analysts recently weighed in on the stock. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Citigroup lowered shares of LegalZoom.com from a “buy” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating on the stock in a research report on Thursday, September 5th. Bank of America lowered shares of LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price objective for the company from $13.00 to $6.00 in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group raised 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 report on Wednesday, July 31st.

LegalZoom.com Price Performance

NASDAQ LZ opened at $6.90 on Wednesday. The company has a 50 day simple moving average of $6.50 and a 200-day simple moving average of $8.07. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of 62.73, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $13.74.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $177.36 million during 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%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.02 earnings per share. On average, analysts predict that LegalZoom.com will post 0.23 EPS for the current year.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of LegalZoom.com by 7.3% in the first quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock worth $225,918,000 after acquiring an additional 1,158,252 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of LegalZoom.com by 15.8% in the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after acquiring an additional 762,612 shares during the last quarter. Blair William & Co. IL grew its stake in shares of LegalZoom.com by 5.4% in the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock worth $51,177,000 after acquiring an additional 195,512 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of LegalZoom.com by 26.8% in the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after acquiring an additional 521,200 shares during the last quarter. Finally, Coastal Bridge Advisors LLC grew its stake in shares of LegalZoom.com by 10.2% in the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after acquiring an additional 184,696 shares during the last quarter. 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.