LegalZoom.com’s (LZ) “Market Perform” Rating Reaffirmed at JMP Securities

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating reissued by stock analysts at JMP Securities in a research note issued to investors on Friday,Benzinga reports.

A number of other research firms have also recently commented on LZ. Citigroup lifted their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Tuesday, November 26th. Barclays lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upgraded shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $8.00 to $9.00 in a research note on Monday, January 13th. UBS Group started coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price for the company. Finally, Morgan Stanley lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Monday, January 13th. Two investment 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. According to MarketBeat, LegalZoom.com has an average rating of “Hold” and an average price target of $8.81.

LegalZoom.com Price Performance

NASDAQ LZ traded down $0.04 during trading on Friday, reaching $9.13. 859,485 shares of the company’s stock traded hands, compared to its average volume of 1,623,976. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 70.27, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10. The company’s 50 day simple moving average is $8.05 and its two-hundred day simple moving average is $7.20. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $13.74.

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

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors have recently made changes to their positions in LZ. Citizens Financial Group Inc. RI bought a new stake in shares of LegalZoom.com in the 3rd quarter valued at approximately $3,112,000. Tabor Asset Management LP increased its holdings in shares of LegalZoom.com by 44.9% in the 3rd quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock valued at $9,669,000 after acquiring an additional 472,002 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of LegalZoom.com by 25.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company’s stock valued at $10,806,000 after acquiring an additional 262,335 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of LegalZoom.com in the 3rd quarter valued at approximately $1,429,000. Finally, Marshall Wace LLP bought a new stake in shares of LegalZoom.com in the 2nd quarter valued at approximately $1,784,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.