Barclays Raises LegalZoom.com (NASDAQ:LZ) Price Target to $10.00

Key Points

• Barclays has increased its price target for LegalZoom.com (NASDAQ:LZ) from $9.00 to $10.00, maintaining an "equal weight" rating despite indicating a potential downside of nearly 10% from the previous close.
• Several analysts have upgraded their ratings on LegalZoom.com, including Bank of America, which raised its target to $12.00 and upgraded its rating to "buy."
• LegalZoom.com reported a quarterly revenue increase of 8.5% year-over-year, achieving an EPS of $0.15, which met analyst expectations.

LegalZoom.com (NASDAQ:LZ - Get Free Report) had its price objective hoisted by analysts at Barclays from $9.00 to $10.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Barclays's price objective indicates a potential downside of 9.97% from the company's previous close.

Several other equities analysts have also recently issued reports on the company. Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, May 15th. Bank of America raised shares of LegalZoom.com from an "underperform" rating to a "buy" rating and increased their price objective for the company from $8.00 to $12.00 in a research note on Friday. Morgan Stanley lifted their target price on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a report on Monday, May 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, LegalZoom.com has an average rating of "Hold" and an average target price of $9.92.

LegalZoom.com Stock Up 0.2%

NASDAQ LZ opened at $11.11 on Tuesday. The firm has a market cap of $2.00 billion, a P/E ratio of 68.88, a P/E/G ratio of 4.68 and a beta of 1.23. LegalZoom.com has a 52-week low of $5.57 and a 52-week high of $11.93. The business's 50-day moving average price is $8.99 and its 200 day moving average price is $8.79.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.15 EPS for the quarter, hitting analysts' consensus estimates of $0.15. The company had revenue of $192.51 million during the quarter, compared to the consensus estimate of $182.49 million. LegalZoom.com had a net margin of 4.07% and a return on equity of 23.97%. LegalZoom.com's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, analysts anticipate that LegalZoom.com will post 0.25 earnings per share for the current year.

Institutional Investors Weigh In On LegalZoom.com

Several institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in LegalZoom.com during the 1st quarter valued at $29,000. State of Wyoming grew its position in 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 buying an additional 2,475 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of LegalZoom.com by 2,750.6% in the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after acquiring an additional 9,297 shares during the period. Quantessence Capital LLC bought a new stake in LegalZoom.com during the fourth quarter worth approximately $78,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of LegalZoom.com in the 1st quarter worth $91,000. Institutional investors and hedge funds own 81.99% of the company's stock.

LegalZoom.com Company Profile

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.

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