LegalZoom.com, Inc. (NASDAQ:LZ) Receives $9.06 Average Target Price from Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) has been assigned an average recommendation of "Hold" from the nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $9.06.

A number of research analysts have issued reports on the stock. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Friday, April 11th. Morgan Stanley reduced their price objective on LegalZoom.com from $10.00 to $7.00 and set an "underweight" rating for the company in a report on Wednesday, April 16th. Barclays upped their target price on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, February 27th. William Blair restated a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. increased their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th.

Institutional Trading of LegalZoom.com

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State of Wyoming boosted its holdings in shares of LegalZoom.com by 42.1% during the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after purchasing an additional 2,475 shares during the last quarter. Aigen Investment Management LP acquired a new stake in LegalZoom.com in the 4th quarter worth about $76,000. Olympiad Research LP purchased a new stake in LegalZoom.com in the 4th quarter valued at about $78,000. Quantessence Capital LLC acquired a new position in shares of LegalZoom.com during the 4th quarter valued at about $78,000. Finally, Sei Investments Co. purchased a new position in shares of LegalZoom.com during the 4th quarter worth about $83,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Trading Down 1.1 %

Shares of NASDAQ:LZ traded down $0.08 on Friday, reaching $7.27. 1,604,359 shares of the company were exchanged, compared to its average volume of 1,838,432. The company has a 50-day moving average of $8.29 and a 200-day moving average of $8.21. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 1.73 and a beta of 1.14. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $12.21.

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.