LegalZoom.com (NASDAQ:LZ) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of LegalZoom.com (NASDAQ:LZGet Rating) from a sell rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Legalzoom.com, Inc. provides legal services. The Company focuses on forming business, corporate changes, filings, business compliance, trademark, patent, copyright, taxes, licenses, permits, agreements and additional services. Legalzoom.com Inc. is based in Glendale, United States. “

LZ has been the topic of a number of other research reports. Barclays dropped their price target on LegalZoom.com from $32.00 to $17.00 and set an overweight rating on the stock in a research report on Friday, March 11th. Morgan Stanley increased their price target on LegalZoom.com from $14.00 to $16.00 and gave the stock an equal weight rating in a research report on Wednesday, March 23rd. JMP Securities reissued a buy rating and set a $31.00 price target on shares of LegalZoom.com in a research report on Thursday, March 24th. JPMorgan Chase & Co. dropped their price target on LegalZoom.com from $44.00 to $38.00 and set an overweight rating on the stock in a research report on Tuesday, December 14th. Finally, Credit Suisse Group dropped their price target on LegalZoom.com from $40.00 to $31.00 and set an outperform rating on the stock in a research report on Friday, March 11th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, LegalZoom.com currently has a consensus rating of Hold and a consensus target price of $27.13.

Shares of LegalZoom.com stock opened at $13.95 on Tuesday. The stock’s fifty day moving average is $14.67 and its two-hundred day moving average is $18.09. LegalZoom.com has a 52 week low of $11.05 and a 52 week high of $40.94.

LegalZoom.com (NASDAQ:LZGet Rating) last announced its quarterly earnings data on Thursday, March 10th. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.11. The business had revenue of $142.14 million during the quarter, compared to the consensus estimate of $143.70 million. The firm’s revenue was up 16.3% on a year-over-year basis. On average, equities analysts expect that LegalZoom.com will post -0.21 EPS for the current fiscal year.

In other news, CFO Noel Bertram Watson sold 19,800 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $14.98, for a total value of $296,604.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Nicole Miller sold 3,835 shares of LegalZoom.com stock in a transaction dated Friday, February 18th. The stock was sold at an average price of $16.00, for a total value of $61,360.00. The disclosure for this sale can be found here. Insiders have sold a total of 59,673 shares of company stock valued at $927,946 over the last 90 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Coastal Bridge Advisors LLC purchased a new stake in shares of LegalZoom.com in the fourth quarter worth about $46,566,000. W Capital Management LLC purchased a new stake in shares of LegalZoom.com in the fourth quarter worth about $30,836,000. Hawk Ridge Capital Management LP acquired a new position in LegalZoom.com in the 4th quarter worth about $25,753,000. Hillman Co. acquired a new position in LegalZoom.com in the 4th quarter worth about $19,847,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in LegalZoom.com in the 4th quarter worth about $19,794,000. Institutional investors and hedge funds own 51.19% of the company’s stock.

LegalZoom.com Company Profile (Get Rating)

LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.

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