JMP Securities Reiterates Market Perform Rating for LegalZoom.com (NASDAQ:LZ)

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating restated by equities researchers at JMP Securities in a research note issued to investors on Friday,Benzinga reports.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. raised shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and increased their price target for the company from $8.00 to $9.00 in a report on Monday, January 13th. Barclays raised their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Citigroup raised their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. UBS Group assumed coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 target price on the stock. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, LegalZoom.com presently has an average rating of “Hold” and a consensus price target of $8.81.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $8.99 on Friday. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $13.74. The company has a market capitalization of $1.55 billion, a P/E ratio of 69.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company has a 50-day simple moving average of $8.08 and a 200 day simple moving average of $7.22.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. New York State Common Retirement Fund boosted its position in LegalZoom.com by 112.1% in the fourth quarter. New York State Common Retirement Fund now owns 180,449 shares of the company’s stock valued at $1,355,000 after buying an additional 95,361 shares in the last quarter. Rhumbline Advisers boosted its position in LegalZoom.com by 14.2% in the fourth quarter. Rhumbline Advisers now owns 215,199 shares of the company’s stock valued at $1,616,000 after buying an additional 26,720 shares in the last quarter. Summit Trail Advisors LLC boosted its position in LegalZoom.com by 6.8% in the fourth quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company’s stock valued at $552,000 after buying an additional 4,697 shares in the last quarter. Savant Capital LLC acquired a new stake in LegalZoom.com in the fourth quarter valued at approximately $163,000. Finally, Oak Harvest Investment Services acquired a new stake in LegalZoom.com in the fourth quarter valued at approximately $751,000. 81.99% of the stock is owned by institutional investors.

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.