LegalZoom.com (NASDAQ:LZ) Issues Earnings Results

LegalZoom.com (NASDAQ:LZ) released its quarterly earnings data on Thursday. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01), FiscalAI reports. The firm had revenue of $190.27 million during the quarter, compared to analysts’ expectations of $184.85 million. LegalZoom.com had a net margin of 3.05% and a return on equity of 9.91%.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ traded up $0.08 during trading hours on Thursday, hitting $7.05. 5,385,026 shares of the company’s stock traded hands, compared to its average volume of 3,893,910. The firm has a market capitalization of $1.25 billion, a P/E ratio of 58.75, a price-to-earnings-growth ratio of 1.16 and a beta of 1.22. The business has a fifty day moving average price of $9.11 and a 200-day moving average price of $9.80. LegalZoom.com has a 1 year low of $6.47 and a 1 year high of $12.40.

Institutional Trading of LegalZoom.com

Hedge funds and other institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC grew its holdings in shares of LegalZoom.com by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after purchasing an additional 1,139 shares during the last quarter. Prelude Capital Management LLC lifted its holdings in LegalZoom.com by 11.6% during the 3rd quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock valued at $147,000 after buying an additional 1,470 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in LegalZoom.com by 2.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock valued at $594,000 after buying an additional 1,705 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in LegalZoom.com by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock worth $646,000 after acquiring an additional 2,161 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of LegalZoom.com by 9.0% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 29,602 shares of the company’s stock worth $294,000 after acquiring an additional 2,441 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LZ. JPMorgan Chase & Co. dropped their price objective on LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a report on Wednesday. Citigroup dropped their price target on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Friday, November 21st. William Blair upgraded shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a report on Thursday, November 6th. Barclays upped their price objective on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Finally, Morgan Stanley raised their target price on shares of LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 13th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, LegalZoom.com has a consensus rating of “Hold” and a consensus target price of $10.90.

About LegalZoom.com

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.