LegalZoom.com, Inc. (NASDAQ:LZ) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have received an average recommendation of “Reduce” from the eight analysts that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $8.67.

Several analysts have weighed in on the company. William Blair assumed coverage on LegalZoom.com in a report on Monday, September 16th. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research note on Friday, November 8th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Friday, September 13th. Barclays increased their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Jefferies Financial Group raised LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research note on Wednesday, July 31st.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $7.99 on Friday. The stock has a fifty day moving average price of $6.94 and a two-hundred day moving average price of $7.52. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 63.08, a PEG ratio of 1.89 and a beta of 1.06. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.74.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. The company had revenue of $168.60 million for the quarter, compared to analyst estimates of $167.66 million. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. LegalZoom.com’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, analysts predict that LegalZoom.com will post 0.25 EPS for the current year.

Hedge Funds Weigh In On LegalZoom.com

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of LegalZoom.com by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock valued at $225,918,000 after purchasing an additional 1,158,252 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of LegalZoom.com by 15.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock valued at $46,827,000 after purchasing an additional 762,612 shares in the last quarter. Blair William & Co. IL lifted its stake in shares of LegalZoom.com by 5.4% in the 1st quarter. Blair William & Co. IL now owns 3,836,392 shares of the company’s stock valued at $51,177,000 after purchasing an additional 195,512 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of LegalZoom.com by 26.8% in the 2nd quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock valued at $20,698,000 after purchasing an additional 521,200 shares in the last quarter. Finally, Coastal Bridge Advisors LLC lifted its stake in shares of LegalZoom.com by 10.2% in the 2nd quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company’s stock valued at $16,751,000 after purchasing an additional 184,696 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.