LegalZoom.com, Inc. (NASDAQ:LZ) Receives $9.19 Average PT from Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have earned a consensus rating of “Hold” from the nine brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.19.

LZ has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Barclays raised their price target on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. William Blair reissued a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Finally, JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, April 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Accurate Wealth Management LLC bought a new position in LegalZoom.com in the 1st quarter worth $490,000. Harbor Capital Advisors Inc. bought a new position in LegalZoom.com in the first quarter worth about $4,157,000. Pallas Capital Advisors LLC bought a new position in LegalZoom.com in the first quarter worth about $124,000. Merit Financial Group LLC purchased a new stake in LegalZoom.com in the first quarter worth about $116,000. Finally, GAMMA Investing LLC boosted its position in LegalZoom.com by 2,750.6% during the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company’s stock valued at $83,000 after acquiring an additional 9,297 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ opened at $7.09 on Wednesday. The business has a 50-day moving average of $8.90 and a 200-day moving average of $8.15. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 54.54, a PEG ratio of 1.73 and a beta of 1.13. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $12.55.

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.