LegalZoom.com’s (LZ) Underweight Rating Reiterated at JPMorgan Chase & Co.

LegalZoom.com (NASDAQ:LZ)‘s stock had its “underweight” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $8.00 target price on the stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 8.78% from the stock’s previous close.

A number of other equities analysts also recently issued reports on LZ. William Blair initiated coverage on shares of LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating on the stock. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Finally, Jefferies Financial Group upgraded shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Wednesday, July 31st. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.79.

LegalZoom.com Stock Performance

Shares of LegalZoom.com stock opened at $8.77 on Friday. The stock has a market capitalization of $1.54 billion, a PE ratio of 70.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.06. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74. The stock has a 50 day moving average price of $6.80 and a two-hundred day moving average price of $7.66.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The firm had revenue of $177.36 million for the quarter, compared to analyst estimates of $172.92 million. During the same period last year, the firm earned $0.02 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that LegalZoom.com will post 0.23 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LZ. Blair William & Co. IL increased its holdings in shares of LegalZoom.com by 5.4% in the first quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock worth $51,177,000 after buying an additional 195,512 shares during the period. Susquehanna Fundamental Investments LLC increased its stake in LegalZoom.com by 148.3% in the 1st quarter. Susquehanna Fundamental Investments LLC now owns 70,797 shares of the company’s stock worth $944,000 after purchasing an additional 42,288 shares during the period. Coastal Bridge Advisors LLC lifted its position in LegalZoom.com by 10.2% in the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock valued at $16,751,000 after purchasing an additional 184,696 shares during the last quarter. Swiss National Bank boosted its stake in shares of LegalZoom.com by 15.7% during the first quarter. Swiss National Bank now owns 241,200 shares of the company’s stock valued at $3,218,000 after purchasing an additional 32,700 shares during the period. Finally, Renaissance Technologies LLC grew its holdings 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 purchasing an additional 521,200 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

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.