LegalZoom.com, Inc. (NASDAQ:LZ) Given Consensus Rating of “Reduce” by Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ) has received an average rating of “Reduce” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $8.79.

Several equities research analysts recently commented on LZ shares. William Blair initiated coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating for the company. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. UBS Group began coverage on LegalZoom.com in a research report on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. Barclays increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th.

LegalZoom.com Stock Up 2.2 %

Shares of NASDAQ LZ opened at $7.73 on Monday. The stock’s fifty day simple moving average is $7.87 and its 200 day simple moving average is $7.13. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 59.47, a PEG 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 issued its quarterly 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 for the quarter, compared to analysts’ expectations of $167.66 million. During the same quarter last year, the business posted $0.05 EPS. LegalZoom.com’s revenue was up .8% on a year-over-year basis. As a group, analysts anticipate that LegalZoom.com will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LZ. Westwood Holdings Group Inc. grew its position in LegalZoom.com by 15.8% in the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock worth $46,827,000 after acquiring an additional 762,612 shares in the last quarter. Franklin Resources Inc. boosted its holdings 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 in the last quarter. Renaissance Technologies LLC increased its position in LegalZoom.com by 26.8% during the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after buying an additional 521,200 shares during the last quarter. Coastal Bridge Advisors LLC increased its position in LegalZoom.com by 10.2% during the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock worth $16,751,000 after buying an additional 184,696 shares during the last quarter. Finally, Tabor Asset Management LP raised its holdings in LegalZoom.com by 44.9% during the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock valued at $9,669,000 after buying an additional 472,002 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.