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

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned a consensus rating of “Hold” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $9.19.

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Morgan Stanley upped their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th.

LegalZoom.com Price Performance

Shares of LZ stock opened at $7.31 on Wednesday. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.36. The business has a 50-day moving average of $9.10 and a 200 day moving average of $8.13. The stock has a market capitalization of $1.29 billion, a PE ratio of 56.24, a P/E/G ratio of 1.73 and a beta of 1.13.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in LegalZoom.com by 14.5% during the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock valued at $152,241,000 after purchasing an additional 2,574,700 shares during the last quarter. Nuveen Asset Management LLC boosted its position in LegalZoom.com by 297.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company’s stock valued at $8,799,000 after purchasing an additional 877,125 shares in the last quarter. Norges Bank bought a new position in LegalZoom.com in the fourth quarter worth about $5,769,000. Ararat Capital Management LP lifted its position in LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company’s stock valued at $24,396,000 after acquiring an additional 682,678 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in LegalZoom.com by 103.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company’s stock valued at $8,662,000 after buying an additional 585,734 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

About LegalZoom.com

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.