JPMorgan Chase & Co. Cuts LegalZoom.com (NASDAQ:LZ) Price Target to $8.00

LegalZoom.com (NASDAQ:LZ) had its price objective trimmed by JPMorgan Chase & Co. from $9.00 to $8.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

LZ has been the subject of several other reports. Barclays lowered LegalZoom.com from an overweight rating to an equal weight rating in a report on Wednesday, July 10th. Citigroup lowered LegalZoom.com from a buy rating to a neutral rating and dropped their price target for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Jefferies Financial Group raised shares of LegalZoom.com from a hold rating to a buy rating and set a $8.00 price objective for the company in a report on Wednesday, July 31st. Bank of America lowered shares of LegalZoom.com from a buy rating to an underperform rating and lowered their target price for the company from $13.00 to $6.00 in a research note on Wednesday, July 10th. Finally, JMP Securities downgraded shares of LegalZoom.com from an outperform rating to a market perform rating in a research report on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, LegalZoom.com has a consensus rating of Hold and a consensus price target of $9.79.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock opened at $6.42 on Thursday. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74. The company has a market capitalization of $1.21 billion, a PE ratio of 58.36, a P/E/G ratio of 2.14 and a beta of 1.10. The business has a 50-day moving average of $6.57 and a 200-day moving average of $9.43.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $172.92 million. During the same period in the previous year, the business earned $0.02 EPS. LegalZoom.com’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities analysts expect that LegalZoom.com will post 0.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Technology Crossover Management IX Ltd. grew its stake in shares of LegalZoom.com by 14.6% in the fourth quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock worth $185,278,000 after purchasing an additional 2,094,240 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in LegalZoom.com by 15.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,047,140 shares of the company’s stock valued at $11,833,000 after buying an additional 138,702 shares in the last quarter. Blair William & Co. IL increased its stake in LegalZoom.com by 5.4% during the 1st quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock valued at $51,177,000 after buying an additional 195,512 shares during the period. Vanguard Group Inc. raised its position in shares of LegalZoom.com by 21.4% during the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock worth $178,282,000 after buying an additional 2,777,206 shares in the last quarter. Finally, Hawk Ridge Capital Management LP lifted its stake in shares of LegalZoom.com by 2.4% in the 4th quarter. Hawk Ridge Capital Management LP now owns 5,734,353 shares of the company’s stock worth $64,798,000 after acquiring an additional 135,517 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

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.