LegalZoom.com (NASDAQ:LZ) Shares Gap Up to $9.00

LegalZoom.com, Inc. (NASDAQ:LZGet Rating) gapped up prior to trading on Monday . The stock had previously closed at $9.00, but opened at $9.53. LegalZoom.com shares last traded at $9.00, with a volume of 81,672 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LZ. Barclays dropped their target price on LegalZoom.com to $15.00 in a research report on Wednesday, November 16th. Moffett Nathanson began coverage on LegalZoom.com in a research note on Thursday, September 22nd. They issued an “underperform” rating and a $11.00 price objective for the company. Morgan Stanley lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, November 11th. JMP Securities cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 6th. Finally, Credit Suisse Group decreased their price objective on LegalZoom.com from $19.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, LegalZoom.com has an average rating of “Hold” and an average target price of $19.38.

LegalZoom.com Price Performance

The firm has a 50 day moving average of $8.88 and a two-hundred day moving average of $10.53. The stock has a market cap of $1.74 billion, a PE ratio of -23.18 and a beta of 0.60.

Institutional Investors Weigh In On LegalZoom.com

Institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC purchased a new stake in LegalZoom.com during the second quarter worth approximately $28,000. MetLife Investment Management LLC purchased a new stake in LegalZoom.com during the first quarter worth approximately $63,000. Royal Bank of Canada lifted its stake in LegalZoom.com by 49.9% during the first quarter. Royal Bank of Canada now owns 5,099 shares of the company’s stock worth $72,000 after purchasing an additional 1,697 shares during the last quarter. Citigroup Inc. lifted its stake in LegalZoom.com by 669.6% during the first quarter. Citigroup Inc. now owns 8,519 shares of the company’s stock worth $120,000 after purchasing an additional 7,412 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in LegalZoom.com during the second quarter worth approximately $100,000. Hedge funds and other institutional investors own 71.24% 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.

Further Reading

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