Citigroup Issues Positive Forecast for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its target price upped by Citigroup from $7.00 to $8.50 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 7.87% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a report on Friday, September 13th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research report on Friday, November 8th. William Blair began coverage on shares of LegalZoom.com in a research report on Monday, September 16th. They issued a “market perform” rating on the stock. Jefferies Financial Group raised shares of LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Wednesday, July 31st. Finally, Barclays lifted their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $8.75.

LegalZoom.com Stock Down 0.4 %

NASDAQ LZ traded down $0.03 during trading on Tuesday, reaching $7.88. 10,751 shares of the stock traded hands, compared to its average volume of 1,569,387. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two week high of $13.74. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of 60.62, a price-to-earnings-growth ratio of 1.75 and a beta of 1.06. The stock’s 50-day moving average price is $7.14 and its 200 day moving average price is $7.29.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $168.60 million for the quarter, compared to analysts’ expectations of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same period last year, the firm posted $0.05 earnings per share. Analysts anticipate that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LZ. Vanguard Group Inc. grew its position in shares of LegalZoom.com by 7.3% in the 1st quarter. Vanguard Group Inc. now owns 16,935,396 shares of the company’s stock valued at $225,918,000 after acquiring an additional 1,158,252 shares during the period. Westwood Holdings Group Inc. lifted its stake in LegalZoom.com by 15.8% in the 2nd quarter. Westwood Holdings Group Inc. now owns 5,581,315 shares of the company’s stock valued at $46,827,000 after purchasing an additional 762,612 shares during the last quarter. Renaissance Technologies LLC grew its holdings in LegalZoom.com by 26.8% during the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company’s stock worth $20,698,000 after purchasing an additional 521,200 shares during the period. Citizens Financial Group Inc. RI acquired a new position in LegalZoom.com during the third quarter worth approximately $3,112,000. Finally, Tabor Asset Management LP raised its stake in LegalZoom.com by 44.9% in the third quarter. Tabor Asset Management LP now owns 1,522,726 shares of the company’s stock valued at $9,669,000 after buying an additional 472,002 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

About LegalZoom.com

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.