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

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been given a consensus recommendation of “Reduce” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $7.30.

LZ has been the topic of a number of research analyst reports. Wall Street Zen raised LegalZoom.com from a “hold” rating to a “buy” rating in a report on Saturday, September 26th. William Blair cut shares of LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. 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. Finally, Weiss Ratings raised shares of LegalZoom.com from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ opened at $6.20 on Friday. The stock has a fifty day moving average price of $5.90 and a two-hundred day moving average price of $6.28. The firm has a market cap of $1.06 billion, a P/E ratio of 68.89, a PEG ratio of 1.13 and a beta of 1.20. LegalZoom.com has a 1 year low of $5.22 and a 1 year high of $12.40.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The company had revenue of $205.29 million for the quarter, compared to analysts’ expectations of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period last year, the firm earned $0.15 EPS. On average, research analysts predict that LegalZoom.com will post 0.32 earnings per share for the current fiscal year.

Insider Activity at LegalZoom.com

In other news, insider Nicole Miller sold 43,996 shares of LegalZoom.com stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $5.51, for a total value of $242,417.96. Following the transaction, the insider owned 976,932 shares of the company’s stock, valued at $5,382,895.32. The trade was a 4.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through 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 business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $5.91, for a total transaction 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 $8,814,351.30. The trade was a 21.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 577,475 shares of company stock worth $3,375,197 in the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LZ. Bank of America Corp DE increased its holdings in shares of LegalZoom.com by 187.4% in the first quarter. Bank of America Corp DE now owns 2,509,891 shares of the company’s stock valued at $14,231,000 after buying an additional 1,636,487 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of LegalZoom.com by 579.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,010,914 shares of the company’s stock worth $5,732,000 after acquiring an additional 862,045 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of LegalZoom.com during the 1st quarter worth $2,918,000. Punch & Associates Investment Management Inc. boosted its stake in shares of LegalZoom.com by 23.6% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 2,627,047 shares of the company’s stock worth $26,087,000 after acquiring an additional 500,787 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of LegalZoom.com in the 1st quarter worth $1,923,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.