LegalZoom.com, Inc. (NASDAQ:LZ) Receives Consensus Recommendation of “Hold” from Brokerages

LegalZoom.com, Inc. (NASDAQ:LZGet Rating) has been given an average recommendation of “Buy” by the eleven analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $26.25.

Several brokerages recently issued reports on LZ. Credit Suisse Group lowered their price target on LegalZoom.com from $40.00 to $31.00 and set an “outperform” rating for the company in a report on Friday, March 11th. Morgan Stanley increased their price target on LegalZoom.com from $14.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, March 23rd. JMP Securities reiterated a “buy” rating and issued a $31.00 price target on shares of LegalZoom.com in a report on Thursday, March 24th. Zacks Investment Research downgraded LegalZoom.com from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. Finally, Citigroup upgraded LegalZoom.com from a “neutral” rating to a “buy” rating and increased their price target for the company from $19.00 to $20.00 in a report on Wednesday, April 20th.

In other news, General Counsel Nicole Miller sold 5,712 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $14.84, for a total transaction of $84,766.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $296,604.00. The disclosure for this sale can be found here.

A number of hedge funds and other institutional investors have recently modified their holdings of LZ. Morgan Stanley acquired a new stake in shares of LegalZoom.com in the second quarter valued at approximately $876,000. Deutsche Bank AG acquired a new stake in shares of LegalZoom.com in the third quarter valued at approximately $604,000. BlackRock Inc. increased its stake in shares of LegalZoom.com by 27.1% in the third quarter. BlackRock Inc. now owns 3,431,483 shares of the company’s stock valued at $90,591,000 after purchasing an additional 731,483 shares during the period. Barclays PLC increased its stake in shares of LegalZoom.com by 36.0% in the third quarter. Barclays PLC now owns 21,964 shares of the company’s stock valued at $580,000 after purchasing an additional 5,813 shares during the period. Finally, CIBC Asset Management Inc acquired a new stake in shares of LegalZoom.com in the third quarter valued at approximately $225,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

LZ stock opened at $11.33 on Friday. The company has a market cap of $2.25 billion and a price-to-earnings ratio of -14.71. The business has a fifty day simple moving average of $13.86 and a 200-day simple moving average of $15.72. LegalZoom.com has a 52 week low of $10.60 and a 52 week high of $40.94.

LegalZoom.com (NASDAQ:LZGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04). LegalZoom.com had a negative return on equity of 1,446.94% and a negative net margin of 21.77%. The firm had revenue of $154.21 million for the quarter, compared to analyst estimates of $150.66 million. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts forecast that LegalZoom.com will post -0.21 earnings per share for the current year.

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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Analyst Recommendations for LegalZoom.com (NASDAQ:LZ)

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