LegalZoom.com (NASDAQ:LZ) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of LegalZoom.com (NASDAQ:LZ) in a report issued on Friday morning, Benzinga reports. They currently have a $14.00 target price on the stock.

LZ has been the subject of a number of other research reports. JPMorgan Chase & Co. upped their price objective on LegalZoom.com from $14.00 to $16.00 and gave the company an overweight rating in a research note on Friday, March 22nd. Barclays cut their price target on LegalZoom.com from $17.00 to $15.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Finally, Raymond James started coverage on LegalZoom.com in a research note on Wednesday, March 27th. They set a market perform rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $14.36.

LegalZoom.com Stock Down 2.1 %

Shares of NASDAQ:LZ opened at $12.42 on Friday. LegalZoom.com has a twelve month low of $6.89 and a twelve month high of $15.68. The stock’s 50 day moving average is $12.28 and its 200-day moving average is $11.34. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 155.27, a PEG ratio of 4.44 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $158.66 million during the quarter, compared to analyst estimates of $156.25 million. LegalZoom.com had a return on equity of 15.79% and a net margin of 2.11%. Equities research analysts anticipate that LegalZoom.com will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Richard Preece sold 9,462 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $13.17, for a total transaction of $124,614.54. Following the transaction, the chief operating officer now directly owns 498,519 shares in the company, valued at approximately $6,565,495.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Nicole Miller sold 16,536 shares of LegalZoom.com stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $10.64, for a total value of $175,943.04. Following the sale, the executive vice president now directly owns 233,198 shares in the company, valued at approximately $2,481,226.72. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Richard Preece sold 9,462 shares of LegalZoom.com stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $13.17, for a total value of $124,614.54. Following the completion of the sale, the chief operating officer now owns 498,519 shares in the company, valued at $6,565,495.23. The disclosure for this sale can be found here. Insiders have sold a total of 60,555 shares of company stock worth $664,688 in the last ninety days. 44.60% of the stock is owned by insiders.

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds have recently made changes to their positions in LZ. Bank of New York Mellon Corp boosted its position in shares of LegalZoom.com by 487.3% during the first quarter. Bank of New York Mellon Corp now owns 212,751 shares of the company’s stock valued at $3,007,000 after purchasing an additional 176,523 shares in the last quarter. Citigroup Inc. raised its stake in LegalZoom.com by 669.6% during the first quarter. Citigroup Inc. now owns 8,519 shares of the company’s stock valued at $120,000 after buying an additional 7,412 shares during the last quarter. MetLife Investment Management LLC purchased a new position in LegalZoom.com during the first quarter valued at $63,000. Rhumbline Advisers raised its stake in LegalZoom.com by 232.6% during the first quarter. Rhumbline Advisers now owns 56,063 shares of the company’s stock valued at $793,000 after buying an additional 39,209 shares during the last quarter. Finally, BlackRock Inc. raised its stake in LegalZoom.com by 50.6% during the first quarter. BlackRock Inc. now owns 5,491,412 shares of the company’s stock valued at $77,649,000 after buying an additional 1,843,874 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Company Profile

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.