JPMorgan Chase & Co. Issues Positive Forecast for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its price target boosted by JPMorgan Chase & Co. from $11.00 to $12.00 in a research report sent to investors on Monday, Marketbeat.com reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently issued reports on LZ. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Thursday, May 15th. Barclays raised their target price on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, LegalZoom.com presently has a consensus rating of “Hold” and a consensus price target of $8.64.

LegalZoom.com Price Performance

NASDAQ LZ opened at $9.46 on Monday. The firm’s 50-day moving average is $8.16 and its two-hundred day moving average is $8.34. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $10.60. The stock has a market capitalization of $1.71 billion, a P/E ratio of 72.77, a PEG ratio of 1.73 and a beta of 1.14.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.13. The business had revenue of $183.11 million for the quarter, compared to analysts’ expectations of $176.17 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The business’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 earnings per share. As a group, analysts anticipate that LegalZoom.com will post 0.25 EPS for the current year.

Hedge Funds Weigh In On LegalZoom.com

Hedge funds have recently modified their holdings of the business. Pathway Capital Management LP purchased a new position in shares of LegalZoom.com during the fourth quarter worth approximately $2,387,000. Oak Harvest Investment Services purchased a new position in shares of LegalZoom.com during the fourth quarter worth approximately $751,000. Citizens Financial Group Inc. RI grew its position in shares of LegalZoom.com by 11.3% during the fourth quarter. Citizens Financial Group Inc. RI now owns 545,404 shares of the company’s stock worth $4,096,000 after acquiring an additional 55,336 shares during the last quarter. SG Americas Securities LLC grew its position in shares of LegalZoom.com by 44.8% during the fourth quarter. SG Americas Securities LLC now owns 90,104 shares of the company’s stock worth $677,000 after acquiring an additional 27,867 shares during the last quarter. Finally, State of Tennessee Department of Treasury purchased a new position in shares of LegalZoom.com during the fourth quarter worth approximately $270,000. 81.99% of the stock is currently owned by hedge funds and other 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.