Barclays Issues Positive Forecast for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its target price boosted by Barclays from $7.00 to $8.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target would indicate a potential downside of 4.99% from the company’s current price.

A number of other brokerages also recently commented on LZ. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $8.00 target price on shares of LegalZoom.com in a research note on Friday, November 8th. JMP Securities reissued a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. William Blair started coverage on shares of LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating for the company. Finally, Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, LegalZoom.com currently has an average rating of “Hold” and a consensus price target of $8.79.

LegalZoom.com Trading Up 0.4 %

Shares of LZ opened at $8.42 on Monday. The company’s 50-day moving average price is $6.87 and its 200 day moving average price is $7.55. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $13.74. The firm has a market cap of $1.46 billion, a P/E ratio of 64.77, a price-to-earnings-growth ratio of 2.61 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The firm had revenue of $168.60 million during the quarter, compared to analysts’ expectations of $167.66 million. During the same quarter in the previous year, the business posted $0.05 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that LegalZoom.com will post 0.24 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LZ. Swiss National Bank raised its holdings in LegalZoom.com by 15.7% in the 1st quarter. Swiss National Bank now owns 241,200 shares of the company’s stock valued at $3,218,000 after acquiring an additional 32,700 shares during the last quarter. Susquehanna Fundamental Investments LLC raised its holdings in LegalZoom.com by 148.3% in the first quarter. Susquehanna Fundamental Investments LLC now owns 70,797 shares of the company’s stock valued at $944,000 after acquiring an additional 42,288 shares in the last quarter. Sei Investments Co. raised its stake in shares of LegalZoom.com by 39.6% in the 1st quarter. Sei Investments Co. now owns 83,698 shares of the company’s stock valued at $1,117,000 after purchasing an additional 23,730 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of LegalZoom.com by 5.3% in the 1st quarter. Russell Investments Group Ltd. now owns 167,917 shares of the company’s stock worth $2,240,000 after acquiring an additional 8,481 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in LegalZoom.com by 22.5% in the first quarter. ProShare Advisors LLC now owns 24,042 shares of the company’s stock worth $321,000 after purchasing an additional 4,420 shares during the period. Hedge funds and other institutional investors 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.