LegalZoom.com (NASDAQ:LZ) Upgraded at Zacks Research

Zacks Research upgraded shares of LegalZoom.com (NASDAQ:LZ) from a strong sell rating to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

LZ has been the topic of a number of other research reports. JPMorgan Chase & Co. dropped their price target on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. William Blair upgraded shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen cut shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Morgan Stanley upped their price target on shares of LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 13th. Finally, Barclays lifted their price objective on LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.42.

LegalZoom.com Trading Up 2.5%

Shares of NASDAQ:LZ opened at $6.55 on Monday. LegalZoom.com has a twelve month low of $6.14 and a twelve month high of $12.40. The company has a market cap of $1.13 billion, a PE ratio of 81.89, a price-to-earnings-growth ratio of 1.39 and a beta of 1.22. The company’s 50 day moving average is $8.76 and its 200 day moving average is $9.71.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.01). The business had revenue of $190.27 million during the quarter, compared to analysts’ expectations of $184.85 million. LegalZoom.com had a net margin of 2.04% and a return on equity of 6.35%. The firm’s revenue was up 17.7% on a year-over-year basis. During the same period last year, the company earned $0.19 earnings per share. Equities research analysts predict that LegalZoom.com will post 0.25 earnings per share for the current fiscal year.

LegalZoom.com declared that its board has authorized a share repurchase plan on Thursday, February 19th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $6.96, for a total transaction of $104,400.00. Following the sale, the chief financial officer directly owned 1,480,860 shares of the company’s stock, valued at approximately $10,306,785.60. The trade was a 1.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On LegalZoom.com

Several large investors have recently modified their holdings of the stock. Exchange Traded Concepts LLC acquired a new stake in LegalZoom.com during the third quarter valued at approximately $34,000. Parkside Financial Bank & Trust acquired a new stake in shares of LegalZoom.com during the 3rd quarter valued at approximately $40,000. Clearstead Advisors LLC lifted its stake in LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares during the last quarter. Osaic Holdings Inc. lifted its stake in LegalZoom.com by 477.3% during the second quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after purchasing an additional 3,766 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in LegalZoom.com by 976.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after purchasing an additional 4,140 shares during the period. Institutional investors own 81.99% of the company’s stock.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.