LegalZoom.com (NASDAQ:LZ) Shares Gap Up on Analyst Upgrade

LegalZoom.com, Inc. (NASDAQ:LZ) gapped up prior to trading on Monday after Morgan Stanley raised their price target on the stock from $7.00 to $8.00. The stock had previously closed at $7.52, but opened at $7.86. Morgan Stanley currently has an underweight rating on the stock. LegalZoom.com shares last traded at $7.88, with a volume of 262,884 shares.

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

Hedge Funds Weigh In On LegalZoom.com

Institutional investors and hedge funds have recently made changes to their positions in the business. Coastal Bridge Advisors LLC grew its stake in shares of LegalZoom.com by 10.2% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after buying an additional 184,696 shares during the last quarter. Barclays PLC raised its stake in LegalZoom.com by 308.5% during the third quarter. Barclays PLC now owns 224,782 shares of the company’s stock valued at $1,427,000 after buying an additional 169,761 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in LegalZoom.com in the third quarter worth $1,429,000. 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, Victory Capital Management Inc. grew its stake in shares of LegalZoom.com by 97.2% in the third quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock worth $824,000 after acquiring an additional 63,980 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Up 0.5 %

The firm has a fifty day moving average price of $7.95 and a two-hundred day moving average price of $7.11. The stock has a market capitalization of $1.37 billion, a P/E ratio of 60.93, a P/E/G ratio of 1.81 and a beta of 1.10.

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

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.