LegalZoom.com (NASDAQ:LZ) Trading 5.4% Higher – Here’s Why

LegalZoom.com, Inc. (NASDAQ:LZ) shares were up 5.4% during trading on Monday . The company traded as high as $8.92 and last traded at $8.89. Approximately 504,793 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 1,154,788 shares. The stock had previously closed at $8.43.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LZ. Morgan Stanley raised their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Citigroup lifted their price target on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Barclays upped their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. raised LegalZoom.com from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $9.00 in a report on Monday, January 13th. Finally, UBS Group started coverage on shares of LegalZoom.com in a research report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. Two investment 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, LegalZoom.com has a consensus rating of “Hold” and a consensus target price of $8.81.

LegalZoom.com Stock Up 2.8 %

The stock has a 50 day moving average of $8.00 and a 200 day moving average of $7.17. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 71.16, a P/E/G ratio of 1.58 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, November 6th. The company reported $0.17 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 company had revenue of $168.60 million during the quarter, compared to analysts’ expectations of $167.66 million. During the same period in the previous year, the company earned $0.05 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors have recently modified their holdings of the business. Quarry LP grew its stake in shares of LegalZoom.com by 318.9% during the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after buying an additional 3,406 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of LegalZoom.com by 179.8% during the 3rd 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. Point72 DIFC Ltd bought a new stake in LegalZoom.com during the 2nd quarter worth $71,000. Wexford Capital LP acquired a new position in LegalZoom.com in the 3rd quarter worth about $64,000. Finally, Creative Planning bought a new position in LegalZoom.com in the third quarter valued at about $72,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.