Barclays Forecasts Strong Price Appreciation for LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com (NASDAQ:LZ) had its price objective upped by Barclays from $7.00 to $8.00 in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

LZ has been the topic of a number of other reports. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $8.00 target price on shares of LegalZoom.com in a research report on Friday, November 8th. Finally, William Blair assumed coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, LegalZoom.com currently has an average rating of “Hold” and an average price target of $8.67.

LegalZoom.com Price Performance

Shares of LZ stock opened at $7.95 on Monday. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 61.47, a PEG ratio of 1.84 and a beta of 1.06. The stock has a 50 day simple moving average of $6.97 and a 200-day simple moving average of $7.53.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 earnings per share. Analysts anticipate that LegalZoom.com will post 0.25 earnings per share for the current fiscal year.

Institutional Trading of LegalZoom.com

Hedge funds have recently made changes to their positions in the company. Clearline Capital LP acquired a new position in shares of LegalZoom.com in the 3rd quarter valued at $126,000. Paloma Partners Management Co acquired a new stake in LegalZoom.com in the 3rd quarter valued at approximately $81,000. Edgestream Partners L.P. raised its position in LegalZoom.com by 313.2% in the third quarter. Edgestream Partners L.P. now owns 191,857 shares of the company’s stock valued at $1,218,000 after purchasing an additional 145,425 shares during the period. Walleye Capital LLC lifted its stake in LegalZoom.com by 450.2% during the third quarter. Walleye Capital LLC now owns 24,246 shares of the company’s stock worth $154,000 after purchasing an additional 19,839 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of LegalZoom.com during the third quarter worth $508,000. 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.