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

LegalZoom.com, Inc. (NASDAQ:LZ)’s stock price gapped up before the market opened 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 traded.

A number of other research analysts have also weighed in on the company. William Blair began coverage on LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating for the company. Barclays raised 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. Citigroup upped their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. raised shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and raised their price target for the company from $8.00 to $9.00 in a report on Monday. Finally, UBS Group assumed coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, LegalZoom.com currently has a consensus rating of “Hold” and an average price target of $8.81.

Hedge Funds Weigh In On LegalZoom.com

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of LegalZoom.com by 14.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock worth $3,605,000 after acquiring an additional 71,291 shares during the last quarter. Franklin Resources Inc. lifted its stake in LegalZoom.com by 4.5% in the third quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock worth $20,310,000 after purchasing an additional 132,189 shares during the last quarter. Barclays PLC boosted its position 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 period. Y Intercept Hong Kong Ltd boosted its position in LegalZoom.com by 37.0% during the third quarter. Y Intercept Hong Kong Ltd now owns 170,181 shares of the company’s stock valued at $1,081,000 after buying an additional 45,941 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of LegalZoom.com during the third quarter valued at about $143,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Up 0.5 %

The company has a fifty day moving average price of $7.95 and a 200 day moving average price of $7.11. The stock has a market cap of $1.37 billion, a PE ratio of 60.93, a P/E/G ratio of 1.81 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. As a group, research analysts predict that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

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.