LegalZoom.com (NASDAQ:LZ) PT Lowered to $7.00

LegalZoom.com (NASDAQ:LZGet Rating) had its price target lowered by Morgan Stanley from $9.00 to $7.00 in a report published on Wednesday, The Fly reports. Morgan Stanley currently has an underweight rating on the stock.

LZ has been the topic of several other reports. Barclays lowered their target price on shares of LegalZoom.com to $16.00 in a research note on Monday, August 15th. Credit Suisse Group lowered their target price on shares of LegalZoom.com from $24.00 to $19.00 and set an outperform rating on the stock in a research note on Friday, August 12th. Finally, JMP Securities lowered shares of LegalZoom.com from an outperform rating to a market perform rating in a research note on Tuesday, September 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Hold and an average price target of $21.14.

LegalZoom.com Stock Performance

Shares of LZ opened at $9.04 on Wednesday. The business’s 50-day moving average is $10.53 and its two-hundred day moving average is $12.21. The company has a market capitalization of $1.76 billion, a P/E ratio of -17.05 and a beta of 0.30. LegalZoom.com has a fifty-two week low of $8.35 and a fifty-two week high of $30.91.

LegalZoom.com (NASDAQ:LZGet Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). LegalZoom.com had a negative return on equity of 49.38% and a negative net margin of 17.14%. The company had revenue of $163.87 million for the quarter, compared to the consensus estimate of $161.29 million. During the same period last year, the firm earned ($0.30) EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. Analysts forecast that LegalZoom.com will post -0.2 EPS for the current year.

Insider Activity at LegalZoom.com

In other LegalZoom.com news, CFO Noel Bertram Watson sold 23,643 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $11.46, for a total value of $270,948.78. Following the transaction, the chief financial officer now directly owns 496,188 shares of the company’s stock, valued at approximately $5,686,314.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other LegalZoom.com news, CFO Noel Bertram Watson sold 23,643 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $11.46, for a total value of $270,948.78. Following the transaction, the chief financial officer now directly owns 496,188 shares of the company’s stock, valued at approximately $5,686,314.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shrisha Radhakrishna sold 20,188 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $11.46, for a total transaction of $231,354.48. Following the completion of the transaction, the insider now directly owns 504,004 shares in the company, valued at $5,775,885.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 88,370 shares of company stock valued at $1,012,720. 45.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Covestor Ltd acquired a new stake in shares of LegalZoom.com during the 4th quarter worth approximately $25,000. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of LegalZoom.com during the 1st quarter worth approximately $27,000. Nisa Investment Advisors LLC acquired a new stake in shares of LegalZoom.com during the 2nd quarter worth approximately $28,000. MetLife Investment Management LLC acquired a new stake in shares of LegalZoom.com during the 1st quarter worth approximately $63,000. Finally, FourThought Financial LLC acquired a new stake in shares of LegalZoom.com during the 1st quarter worth approximately $66,000. 71.24% of the stock is owned by hedge funds and other institutional investors.

About LegalZoom.com

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LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.

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