LegalZoom.com (NASDAQ:LZ) Shares Gap Down to $7.85

LegalZoom.com, Inc. (NASDAQ:LZGet Free Report)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $7.85, but opened at $5.33. LegalZoom.com shares last traded at $5.53, with a volume of 2,832,137 shares.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Raymond James began coverage on shares of LegalZoom.com in a report on Wednesday, March 27th. They set a “market perform” rating for the company. JMP Securities downgraded LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Citigroup cut LegalZoom.com from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $15.00 to $8.00 in a report on Wednesday. Bank of America cut LegalZoom.com from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $13.00 to $6.00 in a report on Wednesday. Finally, Barclays lowered LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research note on Wednesday. Two research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $11.21.

Read Our Latest Stock Report on LZ

LegalZoom.com Price Performance

The stock has a market cap of $1.08 billion, a PE ratio of 49.28, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. The business has a 50 day moving average price of $8.92 and a two-hundred day moving average price of $10.76.

LegalZoom.com (NASDAQ:LZGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $174.21 million during the quarter, compared to analyst estimates of $174.87 million. LegalZoom.com had a net margin of 3.15% and a return on equity of 19.47%. On average, sell-side analysts forecast that LegalZoom.com, Inc. will post 0.24 earnings per share for the current fiscal year.

Institutional Trading of LegalZoom.com

Several large investors have recently modified their holdings of LZ. Vanguard Group Inc. lifted its holdings in LegalZoom.com by 21.4% in 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 during the period. Technology Crossover Management IX Ltd. raised its holdings in shares of LegalZoom.com by 14.6% during the fourth quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock valued at $185,278,000 after acquiring an additional 2,094,240 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in LegalZoom.com by 62.0% in the first quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock worth $64,282,000 after acquiring an additional 1,843,427 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in LegalZoom.com by 3,195.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 943,856 shares of the company’s stock valued at $10,666,000 after acquiring an additional 915,214 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in LegalZoom.com by 64.7% in the fourth quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock valued at $22,309,000 after acquiring an additional 775,775 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

LegalZoom.com Company Profile

(Get Free Report)

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.

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