LegalZoom.com (NASDAQ:LZ) Earns “Market Perform” Rating from JMP Securities

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating restated by equities research analysts at JMP Securities in a research report issued on Thursday,Benzinga reports.

Several other equities research analysts have also recently commented on LZ. Morgan Stanley boosted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Friday, May 9th. JPMorgan Chase & Co. upped their price objective on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, Barclays increased their target price on LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, LegalZoom.com has a consensus rating of “Hold” and a consensus target price of $9.19.

LegalZoom.com Trading Up 1.0%

LegalZoom.com stock opened at $9.29 on Thursday. The firm has a market capitalization of $1.68 billion, a P/E ratio of 71.47, a PEG ratio of 1.73 and a beta of 1.14. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $10.60. The business has a 50-day moving average of $8.16 and a 200-day moving average of $8.31.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.13. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business had revenue of $183.11 million during the quarter, compared to analyst estimates of $176.17 million. During the same period in the previous year, the firm earned $0.09 EPS. LegalZoom.com’s quarterly revenue was up 5.1% compared to the same quarter last year. Research analysts anticipate that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Hedge Funds Weigh In On LegalZoom.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in LegalZoom.com in the first quarter worth approximately $29,000. State of Wyoming grew its holdings in LegalZoom.com by 42.1% during the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after buying an additional 2,475 shares in the last quarter. Aigen Investment Management LP purchased a new position in LegalZoom.com in the fourth quarter worth $76,000. Olympiad Research LP purchased a new position in LegalZoom.com in the fourth quarter worth $78,000. Finally, Quantessence Capital LLC purchased a new position in LegalZoom.com in the fourth quarter worth $78,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.