JMP Securities Reaffirms Market Perform Rating for LegalZoom.com (NASDAQ:LZ)

JMP Securities reiterated their market perform rating on shares of LegalZoom.com (NASDAQ:LZ) in a report released on Friday morning,Benzinga reports.

LZ has been the topic of several other research reports. Citigroup upped their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Morgan Stanley upped their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. UBS Group initiated coverage on LegalZoom.com in a research report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price objective for the company. Barclays upped their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded shares of LegalZoom.com from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $8.00 to $9.00 in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.81.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ opened at $8.99 on Friday. The business has a fifty day moving average of $8.08 and a 200-day moving average of $7.22. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $13.74. The firm has a market cap of $1.55 billion, a PE ratio of 69.16, a price-to-earnings-growth ratio of 1.73 and a beta of 1.10.

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

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds have recently bought and sold shares of the company. Quarry LP raised its position in shares of LegalZoom.com by 318.9% during the second quarter. Quarry LP now owns 4,474 shares of the company’s stock worth $38,000 after purchasing an additional 3,406 shares during the period. Nisa Investment Advisors LLC raised its holdings in LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after buying an additional 3,919 shares during the period. Wexford Capital LP bought a new position in LegalZoom.com in the third quarter valued at approximately $64,000. Creative Planning acquired a new position in shares of LegalZoom.com in the third quarter valued at approximately $72,000. Finally, Paloma Partners Management Co bought a new stake in shares of LegalZoom.com during the third quarter worth $81,000. 81.99% of the stock is currently 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.