JPMorgan Chase & Co. Upgrades LegalZoom.com (NASDAQ:LZ) to Overweight

JPMorgan Chase & Co. upgraded shares of LegalZoom.com (NASDAQ:LZ) from an underweight rating to an overweight rating in a research report report published on Monday, MarketBeat.com reports. The firm currently has $9.00 target price on the stock, up from their previous target price of $8.00.

LZ has been the topic of a number of other reports. William Blair began coverage on LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating on the stock. UBS Group began coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 price objective on the stock. Barclays increased their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Citigroup lifted their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $8.81.

LegalZoom.com Trading Up 1.6 %

LZ stock opened at $8.05 on Monday. The firm’s 50-day moving average is $7.95 and its two-hundred day moving average is $7.11. The company has a market capitalization of $1.39 billion, a price-to-earnings ratio of 61.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.10. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The firm had revenue of $168.60 million during the quarter, compared to the consensus estimate of $167.66 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts predict that LegalZoom.com will post 0.25 earnings per share for the current year.

Institutional Trading of LegalZoom.com

A number of hedge funds have recently modified their holdings of the business. nVerses Capital LLC boosted its holdings in shares of LegalZoom.com by 16.2% during the third quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after purchasing an additional 2,200 shares during the period. Quarry LP boosted its stake in shares of LegalZoom.com by 318.9% during the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after buying an additional 3,406 shares during the period. Nisa Investment Advisors LLC grew 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. Lombard Odier Asset Management USA Corp increased its stake in shares of LegalZoom.com by 29.6% in the second quarter. Lombard Odier Asset Management USA Corp now owns 22,795 shares of the company’s stock worth $191,000 after acquiring an additional 5,208 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in shares of LegalZoom.com by 43.8% during the second quarter. Quest Partners LLC now owns 21,943 shares of the company’s stock worth $184,000 after acquiring an additional 6,682 shares in the last quarter. Hedge funds and other institutional investors 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.