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

LegalZoom.com (NASDAQ:LZ – Get Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “

Several other analysts also recently weighed in on the stock. Citigroup upgraded shares of LegalZoom.com from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $19.00 to $20.00 in a research report on Wednesday, April 20th. JMP Securities reissued a “buy” rating and set a $31.00 target price on shares of LegalZoom.com in a research note on Thursday, March 24th. Barclays lowered their target price on shares of LegalZoom.com from $32.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, March 11th. Jefferies Financial Group lowered their target price on shares of LegalZoom.com from $24.00 to $17.00 in a research note on Thursday, January 6th. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $14.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 23rd. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.25.

Shares of NASDAQ:LZ opened at $14.71 on Tuesday. The company’s 50-day moving average price is $14.43 and its 200 day moving average price is $17.41. LegalZoom.com has a fifty-two week low of $11.05 and a fifty-two week high of $40.94.

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

In other news, General Counsel Nicole Miller sold 3,835 shares of the business’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $16.00, for a total transaction of $61,360.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Noel Bertram Watson sold 12,023 shares of the business’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $16.00, for a total transaction of $192,368.00. The disclosure for this sale can be found here. Insiders sold a total of 59,673 shares of company stock worth $927,946 in the last ninety days.

Several hedge funds have recently added to or reduced their stakes in LZ. Covestor Ltd purchased a new position in LegalZoom.com during the fourth quarter valued at approximately $25,000. Citigroup Inc. purchased a new position in LegalZoom.com during the third quarter valued at approximately $30,000. Point72 Hong Kong Ltd purchased a new position in LegalZoom.com during the third quarter valued at approximately $35,000. Royal Bank of Canada purchased a new position in LegalZoom.com during the third quarter valued at approximately $73,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in LegalZoom.com during the third quarter valued at approximately $79,000. 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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