LegalZoom.com (NASDAQ:LZ) Receives Market Perform Rating from William Blair

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating restated by research analysts at William Blair in a research report issued to clients and investors on Thursday,RTT News reports.

LZ has been the topic of several other research reports. Morgan Stanley increased their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Barclays increased 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. Citigroup lifted their price objective on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. lifted 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. Finally, UBS Group started coverage on shares of LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, LegalZoom.com currently has a consensus rating of “Hold” and an average price target of $9.19.

LegalZoom.com Price Performance

Shares of LegalZoom.com stock traded up $1.59 on Thursday, hitting $10.44. 1,864,406 shares of the company’s stock traded hands, compared to its average volume of 1,735,057. The company has a fifty day moving average of $8.44 and a two-hundred day moving average of $7.56. LegalZoom.com has a one year low of $5.33 and a one year high of $13.74. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 79.56, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

Hedge Funds Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew 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 valued at $39,000 after purchasing an additional 3,919 shares during the last quarter. Quarry LP grew its position in shares of LegalZoom.com by 83.4% during the 3rd quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after buying an additional 3,732 shares in the last quarter. State of Wyoming raised its holdings in shares of LegalZoom.com by 42.1% in the 4th quarter. State of Wyoming now owns 8,347 shares of the company’s stock valued at $63,000 after purchasing an additional 2,475 shares in the last quarter. Wexford Capital LP bought a new position in LegalZoom.com in the third quarter worth approximately $64,000. Finally, Creative Planning bought a new stake in LegalZoom.com during the third quarter valued at about $72,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.