LegalZoom.com, Inc. (NASDAQ:LZ) Stock Has Consensus Target Price of $7.30

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned a consensus recommendation of “Reduce” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $7.30.

LZ has been the subject of several research reports. Wall Street Zen raised LegalZoom.com from a “hold” rating to a “buy” rating in a research report on Saturday, September 26th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th. William Blair cut shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of LegalZoom.com in a report on Tuesday, September 29th.

Insider Transactions at LegalZoom.com

In other LegalZoom.com news, insider Nicole Miller sold 43,996 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.51, for a total transaction of $242,417.96. Following the completion of the transaction, the insider owned 976,932 shares in the company, valued at $5,382,895.32. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Noel Watson sold 416,371 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $5.91, for a total value of $2,460,752.61. Following the completion of the sale, the chief financial officer owned 1,491,430 shares in the company, valued at approximately $8,814,351.30. This represents a 21.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 577,475 shares of company stock valued at $3,375,197. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LZ. Allworth Financial LP lifted its position in LegalZoom.com by 255.1% during the 2nd quarter. Allworth Financial LP now owns 5,014 shares of the company’s stock worth $31,000 after buying an additional 3,602 shares in the last quarter. PNC Financial Services Group Inc. increased its position in LegalZoom.com by 11,415.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 7,600 shares of the company’s stock valued at $43,000 after acquiring an additional 7,534 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in LegalZoom.com in the 2nd quarter valued at about $47,000. Cetera Investment Advisers acquired a new stake in LegalZoom.com in the 1st quarter valued at about $58,000. Finally, Headlands Technologies LLC bought a new position in shares of LegalZoom.com in the second quarter worth about $67,000. 81.99% of the stock is owned by institutional investors.

LegalZoom.com Price Performance

Shares of NASDAQ LZ opened at $6.05 on Friday. The company has a market cap of $1.04 billion, a P/E ratio of 67.22, a P/E/G ratio of 1.14 and a beta of 1.20. LegalZoom.com has a 52 week low of $5.22 and a 52 week high of $12.40. The business has a 50-day simple moving average of $5.93 and a two-hundred day simple moving average of $6.28.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%. The company had revenue of $205.29 million during the quarter, compared to the consensus estimate of $205.83 million. During the same quarter last year, the company earned $0.15 EPS. The company’s quarterly revenue was up 6.6% on a year-over-year basis. Equities research analysts anticipate that LegalZoom.com will post 0.32 EPS for the current year.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates an online platform that provides legal, compliance and business-related services to individuals, families and small businesses. The company aims to make commonly needed legal and administrative services more accessible through digital tools, guided workflows and access to professional assistance.

Its offerings include business formation services for corporations and limited liability companies, registered-agent services, business licenses, annual report filings, tax services and other compliance solutions.