LegalZoom.com (NASDAQ:LZ) Price Target Raised to $8.50

LegalZoom.com (NASDAQ:LZ) had its price target hoisted by research analysts at Citigroup from $7.00 to $8.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 7.05% from the stock’s current price.

A number of other equities research analysts have also recently commented on LZ. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. Barclays lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. William Blair assumed coverage on LegalZoom.com in a report on Monday, September 16th. They set a “market perform” rating on the stock. 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 report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $8.00 target price on shares of LegalZoom.com in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.75.

LegalZoom.com Stock Performance

LegalZoom.com stock opened at $7.94 on Tuesday. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $13.74. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 61.08, a price-to-earnings-growth ratio of 1.77 and a beta of 1.06. The business’s fifty day simple moving average is $7.16 and its two-hundred day simple moving average is $7.27.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $168.60 million for the quarter, compared to analysts’ expectations of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. LegalZoom.com’s revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 EPS. On average, equities research analysts predict that LegalZoom.com will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LZ. Vanguard Group Inc. grew its position in shares of LegalZoom.com by 7.3% during the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock valued at $225,918,000 after acquiring an additional 1,158,252 shares during the period. Westwood Holdings Group Inc. lifted its position in LegalZoom.com by 15.8% during the second quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock valued at $46,827,000 after purchasing an additional 762,612 shares in the last quarter. Renaissance Technologies LLC grew its holdings in LegalZoom.com by 26.8% during the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after purchasing an additional 521,200 shares during the period. Citizens Financial Group Inc. RI purchased a new stake in LegalZoom.com in the third quarter worth about $3,112,000. Finally, Tabor Asset Management LP raised its stake in shares of LegalZoom.com by 44.9% in the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock worth $9,669,000 after buying an additional 472,002 shares during the period. 81.99% of the stock is owned by hedge funds and other 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.