LegalZoom.com (NASDAQ:LZ) Stock Rating Lowered by Bank of America

LegalZoom.com (NASDAQ:LZ) was downgraded by analysts at Bank of America from a “buy” rating to an “underperform” rating in a research note issued to investors on Wednesday, Marketbeat reports. They presently have a $6.00 price objective on the stock, down from their previous price objective of $13.00. Bank of America‘s price objective would indicate a potential upside of 0.84% from the company’s current price.

A number of other research analysts have also recently issued reports on LZ. Raymond James began coverage on LegalZoom.com in a research note on Wednesday, March 27th. They issued a “market perform” rating for the company. JMP Securities cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. cut LegalZoom.com from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $14.00 to $9.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $11.21.

LegalZoom.com Trading Up 1.5 %

NASDAQ:LZ opened at $5.95 on Wednesday. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $15.68. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 54.10, a PEG ratio of 2.88 and a beta of 1.10. The stock has a 50-day moving average price of $8.67 and a two-hundred day moving average price of $10.69.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Washington Harbour Partners LP acquired a new position in LegalZoom.com during the first quarter valued at approximately $662,000. California State Teachers Retirement System increased its stake in shares of LegalZoom.com by 8.9% during the first quarter. California State Teachers Retirement System now owns 123,742 shares of the company’s stock worth $1,651,000 after purchasing an additional 10,110 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in shares of LegalZoom.com by 89.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 708,126 shares of the company’s stock worth $9,446,000 after purchasing an additional 334,865 shares during the period. Janus Henderson Group PLC increased its stake in shares of LegalZoom.com by 78.0% during the first quarter. Janus Henderson Group PLC now owns 70,017 shares of the company’s stock worth $933,000 after purchasing an additional 30,682 shares during the period. Finally, Ascent Group LLC increased its stake in shares of LegalZoom.com by 27.6% during the first quarter. Ascent Group LLC now owns 13,650 shares of the company’s stock worth $182,000 after purchasing an additional 2,950 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

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.