LegalZoom.com (NASDAQ:LZ) Stock Rating Reaffirmed by JMP Securities

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a research note issued to investors on Friday, Benzinga reports. They currently have a $14.00 target price on the stock. JMP Securities’ price objective suggests a potential upside of 10.32% from the company’s current price.

Several other analysts also recently issued reports on LZ. Barclays reduced their price target on shares of LegalZoom.com from $17.00 to $15.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. JPMorgan Chase & Co. lifted their price target on shares of LegalZoom.com from $14.00 to $16.00 and gave the company an “overweight” rating in a research report on Friday, March 22nd. Finally, Raymond James started coverage on shares of LegalZoom.com in a research report on Wednesday, March 27th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $14.36.

LegalZoom.com Stock Down 2.1 %

Shares of LZ stock opened at $12.69 on Friday. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 158.63, a price-to-earnings-growth ratio of 4.54 and a beta of 1.23. LegalZoom.com has a 52 week low of $6.89 and a 52 week high of $15.68. The firm has a 50 day moving average of $12.23 and a 200-day moving average of $11.33.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.02. LegalZoom.com had a net margin of 2.11% and a return on equity of 15.79%. The business had revenue of $158.66 million during the quarter, compared to the consensus estimate of $156.25 million. Analysts anticipate that LegalZoom.com will post 0.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Nicole Miller sold 24,557 shares of LegalZoom.com stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.75, for a total transaction of $239,430.75. Following the sale, the executive vice president now directly owns 208,641 shares in the company, valued at approximately $2,034,249.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Richard Preece sold 9,462 shares of LegalZoom.com stock in a transaction on Friday, March 15th. The stock was sold at an average price of $13.17, for a total transaction of $124,614.54. Following the sale, the chief operating officer now directly owns 498,519 shares in the company, valued at approximately $6,565,495.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nicole Miller sold 24,557 shares of LegalZoom.com stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $9.75, for a total value of $239,430.75. Following the sale, the executive vice president now owns 208,641 shares in the company, valued at $2,034,249.75. The disclosure for this sale can be found here. Insiders have sold 60,555 shares of company stock valued at $664,688 in the last three months. 44.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LegalZoom.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. raised its stake in LegalZoom.com by 17.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,603 shares of the company’s stock valued at $104,000 after acquiring an additional 1,256 shares during the period. Amalgamated Bank raised its stake in LegalZoom.com by 9.6% in the 4th quarter. Amalgamated Bank now owns 17,055 shares of the company’s stock valued at $193,000 after acquiring an additional 1,495 shares during the period. Lazard Asset Management LLC raised its stake in LegalZoom.com by 117.8% in the 3rd quarter. Lazard Asset Management LLC now owns 2,858 shares of the company’s stock valued at $31,000 after acquiring an additional 1,546 shares during the period. Alliancebernstein L.P. raised its stake in LegalZoom.com by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 105,973 shares of the company’s stock valued at $908,000 after acquiring an additional 1,573 shares during the period. Finally, Royal Bank of Canada raised its stake in LegalZoom.com by 49.9% in the 1st quarter. Royal Bank of Canada now owns 5,099 shares of the company’s stock valued at $72,000 after acquiring an additional 1,697 shares during the period. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Company Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company's platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.