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

LegalZoom.com, Inc. (NASDAQ:LZ)’s share price gapped up before the market opened on Thursday after Barclays raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $8.85, but opened at $9.66. Barclays currently has an equal weight rating on the stock. LegalZoom.com shares last traded at $10.28, with a volume of 628,157 shares.

Other equities research analysts have also recently issued research reports about the company. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Citigroup upped their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 26th. UBS Group initiated 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. JPMorgan Chase & Co. upped their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.19.

Institutional Investors Weigh In On LegalZoom.com

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of LegalZoom.com by 14.5% during the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after acquiring an additional 2,574,700 shares in the last quarter. Renaissance Technologies LLC raised its holdings in LegalZoom.com by 7.6% in the fourth quarter. Renaissance Technologies LLC now owns 3,525,142 shares of the company’s stock worth $26,474,000 after buying an additional 250,409 shares during the last quarter. Ararat Capital Management LP lifted its stake in shares of LegalZoom.com by 26.6% in the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock worth $24,396,000 after buying an additional 682,678 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of LegalZoom.com by 0.9% during the fourth quarter. Franklin Resources Inc. now owns 3,094,594 shares of the company’s stock valued at $23,240,000 after buying an additional 26,607 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of LegalZoom.com by 30.4% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,020,431 shares of the company’s stock valued at $15,173,000 after acquiring an additional 471,338 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Trading Up 13.2 %

The company has a market capitalization of $1.73 billion, a PE ratio of 77.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. The business’s fifty day moving average is $8.48 and its two-hundred day moving average is $7.58.

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.