LegalZoom.com (NASDAQ:LZ) Shares Gap Down to $7.85

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) gapped down before the market opened on Wednesday . The stock had previously closed at $7.85, but opened at $5.33. LegalZoom.com shares last traded at $5.53, with a volume of 2,832,137 shares traded.

Analyst Upgrades and Downgrades

LZ has been the subject of a number of research reports. Citigroup downgraded LegalZoom.com from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $8.00 in a report on Wednesday. JMP Securities downgraded shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Wednesday. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. lowered shares of LegalZoom.com from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $14.00 to $9.00 in a research note on Wednesday. Finally, Bank of America downgraded shares of LegalZoom.com from a “buy” rating to an “underperform” rating and reduced their price objective for the stock from $13.00 to $6.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and a consensus target price of $11.21.

LegalZoom.com Trading Down 26.9 %

The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 49.28, a P/E/G ratio of 2.88 and a beta of 1.10. The company’s 50 day moving average is $8.92 and its 200-day moving average is $10.76.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The company had revenue of $174.21 million during the quarter, compared to analysts’ expectations of $174.87 million. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. Research analysts expect that LegalZoom.com, Inc. will post 0.24 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LZ. Ameritas Investment Partners Inc. grew its position in shares of LegalZoom.com by 8.8% in the first quarter. Ameritas Investment Partners Inc. now owns 13,345 shares of the company’s stock valued at $178,000 after purchasing an additional 1,074 shares during the last quarter. Amalgamated Bank grew its holdings in LegalZoom.com by 9.6% in the 4th quarter. Amalgamated Bank now owns 17,055 shares of the company’s stock valued at $193,000 after buying an additional 1,495 shares in the last quarter. Ascent Group LLC increased its position in LegalZoom.com by 27.6% during the 1st quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock worth $182,000 after buying an additional 2,950 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of LegalZoom.com by 31.5% during the first quarter. Principal Financial Group Inc. now owns 17,990 shares of the company’s stock worth $240,000 after buying an additional 4,305 shares in the last quarter. Finally, ProShare Advisors LLC boosted its position in shares of LegalZoom.com by 22.5% in the first quarter. ProShare Advisors LLC now owns 24,042 shares of the company’s stock valued at $321,000 after acquiring an additional 4,420 shares during the period. 81.99% of the stock is 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.