LegalZoom.com (NASDAQ:LZ) Price Target Raised to $9.00

LegalZoom.com (NASDAQ:LZ) had its price objective raised by Barclays from $8.00 to $9.00 in a research note published on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other brokerages have also commented on LZ. UBS Group started coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price objective for the company. Citigroup raised their price objective 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. JPMorgan Chase & Co. raised their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.19.

LegalZoom.com Price Performance

Shares of LZ opened at $10.16 on Thursday. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74. The company has a 50-day simple moving average of $8.53 and a two-hundred day simple moving average of $7.62. The firm has a market capitalization of $1.76 billion, a PE ratio of 78.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors and hedge funds have recently made changes to their positions in LZ. Nisa Investment Advisors LLC increased its position in shares of LegalZoom.com by 179.8% during the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after acquiring an additional 3,919 shares in the last quarter. Quarry LP increased its position in shares of LegalZoom.com by 83.4% during the third quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after acquiring an additional 3,732 shares in the last quarter. State of Wyoming grew its position in LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after purchasing an additional 2,475 shares during the period. Wexford Capital LP bought a new stake in LegalZoom.com in the 3rd quarter worth approximately $64,000. Finally, Creative Planning bought a new stake in LegalZoom.com in the 3rd quarter worth approximately $72,000. 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.