LegalZoom.com (NASDAQ:LZ) Shares Gap Down to $6.49

LegalZoom.com, Inc. (NASDAQ:LZ)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $6.49, but opened at $6.33. LegalZoom.com shares last traded at $6.34, with a volume of 114,434 shares.

Analyst Ratings Changes

LZ has been the topic of several analyst reports. Bank of America downgraded LegalZoom.com from a “buy” rating to an “underperform” rating and cut their target price for the company from $13.00 to $6.00 in a research report on Wednesday, July 10th. Jefferies Financial Group raised 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 note on Wednesday, July 31st. JPMorgan Chase & Co. dropped their price target on shares of LegalZoom.com from $9.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, September 5th. Barclays lowered shares of LegalZoom.com from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 10th. Finally, Citigroup lowered LegalZoom.com from a “buy” rating to a “neutral” rating and dropped their target price for the company from $15.00 to $8.00 in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.79.

LegalZoom.com Stock Down 2.6 %

The stock has a market cap of $1.19 billion, a P/E ratio of 59.00, a P/E/G ratio of 2.08 and a beta of 1.10. The company’s 50 day moving average price is $6.39 and its two-hundred day moving average price is $8.72.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its stake in shares of LegalZoom.com by 8.8% during 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 in the last quarter. Ascent Group LLC boosted 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 valued at $182,000 after acquiring an additional 2,950 shares in the last quarter. Quarry LP increased its holdings in shares of LegalZoom.com by 318.9% in the 2nd quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after acquiring an additional 3,406 shares during the period. Principal Financial Group Inc. raised its position in shares of LegalZoom.com by 31.5% in the 1st quarter. Principal Financial Group Inc. now owns 17,990 shares of the company’s stock worth $240,000 after acquiring an additional 4,305 shares in the last quarter. Finally, ProShare Advisors LLC raised its position in shares of LegalZoom.com by 22.5% in the 1st quarter. ProShare Advisors LLC now owns 24,042 shares of the company’s stock worth $321,000 after acquiring an additional 4,420 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.