LegalZoom.com (NASDAQ:LZ) Shares Gap Up to $5.95

LegalZoom.com, Inc. (NASDAQ:LZ)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $5.95, but opened at $6.22. LegalZoom.com shares last traded at $6.09, with a volume of 89,961 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LZ shares. JMP Securities cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Wednesday. Citigroup cut LegalZoom.com from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $8.00 in a research note on Wednesday. JPMorgan Chase & Co. cut LegalZoom.com from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $14.00 to $9.00 in a research note on Wednesday. Barclays cut LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Finally, Bank of America lowered LegalZoom.com from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $13.00 to $6.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $11.21.

LegalZoom.com Trading Up 1.0 %

The stock has a 50-day simple moving average of $8.67 and a 200 day simple moving average of $10.69. The company has a market cap of $1.13 billion, a price-to-earnings ratio of 55.01, a PEG ratio of 2.14 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.03. The business had revenue of $174.21 million during the quarter, compared to analysts’ expectations of $174.87 million. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. As a group, research analysts forecast that LegalZoom.com, Inc. will post 0.23 EPS for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

A number of large investors have recently bought and sold shares of LZ. Counterpoint Mutual Funds LLC purchased a new stake in LegalZoom.com during the 1st quarter worth approximately $135,000. New York State Teachers Retirement System increased its stake in LegalZoom.com by 686.8% during the 4th quarter. New York State Teachers Retirement System now owns 10,606 shares of the company’s stock worth $120,000 after buying an additional 9,258 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of LegalZoom.com in the fourth quarter valued at approximately $120,000. Ameritas Investment Partners Inc. grew its position in shares of LegalZoom.com by 8.8% in the first quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock valued at $178,000 after purchasing an additional 1,074 shares in the last quarter. Finally, Ascent Group LLC grew its position in shares of LegalZoom.com by 27.6% in the first quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock valued at $182,000 after purchasing an additional 2,950 shares in the last quarter. Institutional investors and hedge funds 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.