LegalZoom.com (NASDAQ:LZ) Shares Gap Up on Analyst Upgrade

LegalZoom.com, Inc. (NASDAQ:LZ) gapped up before the market opened on Thursday after Barclays raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $8.85, but opened at $9.66. Barclays currently has an equal weight rating on the stock. LegalZoom.com shares last traded at $10.28, with a volume of 628,157 shares changing hands.

Several other research firms also recently issued reports on LZ. Citigroup increased their target price on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their target price on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. UBS Group assumed coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock. Finally, JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, LegalZoom.com presently has a consensus rating of “Hold” and a consensus target price of $9.19.

Hedge Funds Weigh In On LegalZoom.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning bought a new stake in LegalZoom.com during the third quarter worth about $72,000. Nisa Investment Advisors LLC raised its holdings in shares of LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after buying an additional 3,919 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in LegalZoom.com by 72.1% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,278 shares of the company’s stock worth $141,000 after buying an additional 9,330 shares during the last quarter. Mainstream Capital Management LLC purchased a new stake in LegalZoom.com in the third quarter worth approximately $1,429,000. Finally, Victory Capital Management Inc. grew its position in LegalZoom.com by 97.2% during the third quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock valued at $824,000 after acquiring an additional 63,980 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Price Performance

The stock has a market capitalization of $1.73 billion, a PE ratio of 77.08, a P/E/G ratio of 1.73 and a beta of 1.13. The firm’s 50 day simple moving average is $8.48 and its 200 day simple moving average is $7.58.

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.