LegalZoom.com (NASDAQ:LZ) Receives Market Perform Rating from JMP Securities

JMP Securities reiterated their market perform rating on shares of LegalZoom.com (NASDAQ:LZ) in a report issued on Friday morning, Benzinga reports.

LZ has been the subject of a number of other research reports. Bank of America lowered shares of LegalZoom.com from a buy rating to an underperform rating and cut their price objective for the company from $13.00 to $6.00 in a research report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on shares of LegalZoom.com from $9.00 to $8.00 and set a neutral rating on the stock in a research note on Thursday, September 5th. Barclays cut shares of LegalZoom.com from an overweight rating to an equal weight rating in a research note on Wednesday, July 10th. Jefferies Financial Group upgraded shares of LegalZoom.com from a hold rating to a buy rating and set a $8.00 target price on the stock in a research report on Wednesday, July 31st. Finally, Citigroup lowered shares of LegalZoom.com from a buy rating to a neutral rating and dropped their price target for the stock from $15.00 to $8.00 in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $9.79.

LegalZoom.com Trading Down 0.3 %

NASDAQ:LZ opened at $6.75 on Friday. The firm has a market capitalization of $1.27 billion, a PE ratio of 61.36, a PEG ratio of 2.03 and a beta of 1.10. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.74. The firm’s fifty day simple moving average is $6.38 and its 200 day simple moving average is $9.23.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $177.36 million during the quarter, compared to analysts’ expectations of $172.92 million. LegalZoom.com had a net margin of 3.10% and a return on equity of 22.36%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.02 earnings per share. As a group, analysts anticipate that LegalZoom.com will post 0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in LegalZoom.com by 21.4% in the 4th quarter. Vanguard Group Inc. now owns 15,777,144 shares of the company’s stock valued at $178,282,000 after buying an additional 2,777,206 shares during the last quarter. Technology Crossover Management IX Ltd. boosted its holdings in LegalZoom.com by 14.6% in the fourth quarter. Technology Crossover Management IX Ltd. now owns 16,396,313 shares of the company’s stock valued at $185,278,000 after acquiring an additional 2,094,240 shares during the last quarter. Westwood Holdings Group Inc. increased its position in LegalZoom.com by 62.0% in the first quarter. Westwood Holdings Group Inc. now owns 4,818,703 shares of the company’s stock worth $64,282,000 after purchasing an additional 1,843,427 shares during the period. Wellington Management Group LLP raised its holdings in LegalZoom.com by 64.7% during the 4th quarter. Wellington Management Group LLP now owns 1,974,236 shares of the company’s stock worth $22,309,000 after purchasing an additional 775,775 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in LegalZoom.com by 26.8% in the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after buying an additional 521,200 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.