Weekly Investment Analysts’ Ratings Updates for LegalZoom.com (LZ)

Several brokerages have updated their recommendations and price targets on shares of LegalZoom.com (NASDAQ: LZ) in the last few weeks:

• 4/20/2022 – LegalZoom.com was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. 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. “
• 4/20/2022 – LegalZoom.com was upgraded by analysts at Citigroup Inc. from a “neutral” rating to a “buy” rating. They now have a $20.00 price target on the stock, up previously from $19.00.
• 4/12/2022 – LegalZoom.com was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
• 4/2/2022 – LegalZoom.com was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
• 3/24/2022 – LegalZoom.com had its “buy” rating reaffirmed by analysts at JMP Securities. They now have a $31.00 price target on the stock.
• 3/23/2022 – LegalZoom.com had its price target raised by analysts at Morgan Stanley from $14.00 to $16.00. They now have an “equal weight” rating on the stock.
• 3/22/2022 – LegalZoom.com was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. 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. “
• 3/14/2022 – LegalZoom.com had its price target lowered by analysts at Morgan Stanley from $19.00 to $14.00. They now have an “equal weight” rating on the stock.
• 3/11/2022 – LegalZoom.com had its price target lowered by analysts at Barclays PLC from $32.00 to $17.00. They now have an “overweight” rating on the stock.
• 3/11/2022 – LegalZoom.com had its price target lowered by analysts at Credit Suisse Group AG from $40.00 to $31.00. They now have an “outperform” rating on the stock.
• 3/11/2022 – LegalZoom.com had its price target lowered by analysts at JMP Securities from $35.00 to $31.00. They now have a “market outperform” rating on the stock.

Shares of NASDAQ LZ opened at $15.10 on Thursday. The company has a 50 day simple moving average of $14.54 and a 200 day simple moving average of $17.68. LegalZoom.com, Inc. has a 1 year low of $11.05 and a 1 year high of $40.94.

LegalZoom.com (NASDAQ:LZ – Get Rating) last released its quarterly earnings results on Thursday, March 10th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.11. The firm had revenue of $142.14 million for the quarter, compared to the consensus estimate of $143.70 million. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. Analysts forecast that LegalZoom.com, Inc. will post -0.21 earnings per share for the current fiscal year.

In related news, General Counsel Nicole Miller sold 3,835 shares of LegalZoom.com stock in a transaction on Friday, February 18th. The shares were sold at an average price of $16.00, for a total value of $61,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shrisha Radhakrishna sold 13,842 shares of LegalZoom.com stock in a transaction on Friday, February 18th. The shares were sold at an average price of $16.00, for a total transaction of $221,472.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,673 shares of company stock valued at $927,946.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LZ. Citigroup Inc. purchased a new stake in LegalZoom.com in the 3rd quarter worth approximately $30,000. Point72 Hong Kong Ltd purchased a new position in LegalZoom.com in the 3rd quarter worth $35,000. Covestor Ltd bought a new stake in LegalZoom.com in the 4th quarter worth $25,000. Charles Schwab Investment Management Inc. grew its holdings in LegalZoom.com by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 96,838 shares of the company’s stock worth $1,557,000 after acquiring an additional 1,916 shares during the last quarter. Finally, Royal Bank of Canada bought a new stake in LegalZoom.com during the 3rd quarter valued at approximately $73,000. 51.19% of the stock is owned by institutional investors.

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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