LegalZoom.com, Inc. (NASDAQ:LZ) Receives $9.19 Average Target Price from Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $9.19.

A number of brokerages have recently issued reports on LZ. Barclays upped their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Morgan Stanley raised their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. boosted their target price on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. William Blair restated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Friday.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mariner LLC lifted its position in shares of LegalZoom.com by 5.6% in the 4th quarter. Mariner LLC now owns 44,638 shares of the company’s stock worth $335,000 after purchasing an additional 2,348 shares during the period. State of Wyoming raised its stake in LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after buying an additional 2,475 shares in the last quarter. Quarry LP raised its stake in LegalZoom.com by 83.4% in the third quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after buying an additional 3,732 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in LegalZoom.com by 6.8% in the fourth quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company’s stock worth $552,000 after buying an additional 4,697 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in LegalZoom.com by 8.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 65,240 shares of the company’s stock valued at $490,000 after acquiring an additional 5,045 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Trading Down 2.6 %

LZ opened at $7.13 on Wednesday. The stock has a market capitalization of $1.26 billion, a P/E ratio of 54.85, a PEG ratio of 1.73 and a beta of 1.13. The stock has a 50-day moving average price of $8.98 and a 200-day moving average price of $8.15. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $12.85.

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.