LegalZoom.com (NASDAQ:LZ) Downgraded by Citigroup to “Neutral”

Citigroup lowered shares of LegalZoom.com (NASDAQ:LZFree Report) from a buy rating to a neutral rating in a research note released on Wednesday, MarketBeat Ratings reports. Citigroup currently has $8.00 price objective on the stock, down from their previous price objective of $15.00.

A number of other equities research analysts have also commented on LZ. JPMorgan Chase & Co. lowered LegalZoom.com from an overweight rating to a neutral rating and decreased their price objective for the stock from $14.00 to $9.00 in a research report on Wednesday. Bank of America downgraded LegalZoom.com from a buy rating to an underperform rating and cut their price target for the stock from $13.00 to $6.00 in a research note on Wednesday. Raymond James started coverage on LegalZoom.com in a research note on Wednesday, March 27th. They set a market perform rating for the company. Finally, JMP Securities lowered LegalZoom.com from an outperform rating to a market perform rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, LegalZoom.com currently has an average rating of Hold and a consensus price target of $11.21.

Read Our Latest Analysis on LegalZoom.com

LegalZoom.com Stock Down 25.4 %

NASDAQ:LZ opened at $5.86 on Wednesday. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $15.68. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 53.28, a price-to-earnings-growth ratio of 2.88 and a beta of 1.10. The stock has a fifty day simple moving average of $8.79 and a 200 day simple moving average of $10.72.

LegalZoom.com (NASDAQ:LZGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.03. LegalZoom.com had a return on equity of 19.47% and a net margin of 3.15%. The business had revenue of $174.21 million during the quarter, compared to analyst estimates of $174.87 million. Equities analysts predict that LegalZoom.com will post 0.24 earnings per share for the current year.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently bought and sold shares of LZ. New York State Teachers Retirement System boosted its stake in LegalZoom.com by 686.8% in the fourth quarter. New York State Teachers Retirement System now owns 10,606 shares of the company’s stock worth $120,000 after purchasing an additional 9,258 shares in the last quarter. Nomura Holdings Inc. acquired a new position in LegalZoom.com in the fourth quarter worth $120,000. Counterpoint Mutual Funds LLC acquired a new position in shares of LegalZoom.com during the first quarter valued at $135,000. Cornerstone Investment Partners LLC acquired a new position in shares of LegalZoom.com during the fourth quarter valued at $157,000. Finally, DekaBank Deutsche Girozentrale lifted its stake in shares of LegalZoom.com by 405.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 14,443 shares of the company’s stock valued at $164,000 after acquiring an additional 11,585 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

About LegalZoom.com

(Get Free Report)

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.

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Analyst Recommendations for LegalZoom.com (NASDAQ:LZ)

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