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

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned a consensus recommendation of “Hold” from the ten research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $9.19.

Several research firms recently weighed in on LZ. Citigroup raised their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Thursday, February 27th. UBS Group began coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They set a “neutral” rating and a $9.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, 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 research note on Thursday, February 27th.

LegalZoom.com Price Performance

Shares of NASDAQ LZ opened at $9.53 on Friday. The firm has a fifty day moving average price of $9.01 and a 200-day moving average price of $7.92. The stock has a market cap of $1.68 billion, a PE ratio of 73.31, a price-to-earnings-growth ratio of 1.73 and a beta of 1.09. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $13.58.

Institutional Investors Weigh In On LegalZoom.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP lifted its holdings in LegalZoom.com by 83.4% during the 3rd quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after buying an additional 3,732 shares in the last quarter. State of Wyoming increased its position in LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company’s stock valued at $63,000 after purchasing an additional 2,475 shares during the period. Wexford Capital LP purchased a new position in LegalZoom.com during the 3rd quarter valued at about $64,000. Aigen Investment Management LP purchased a new position in LegalZoom.com during the 4th quarter valued at about $76,000. Finally, Olympiad Research LP purchased a new position in LegalZoom.com during the 4th quarter valued at about $78,000. Institutional investors own 81.99% of the company’s stock.

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.