LegalZoom.com (NASDAQ:LZ) Given New $8.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. cut its price target on LegalZoom.com from $11 to $8, while keeping an overweight rating. The new target still implies about 35% upside from the stock’s previous close.
• Analyst sentiment on LegalZoom remains mixed, with the stock carrying an overall Hold consensus and an average target price of $8.25. Recent moves from other firms included target cuts and downgrades from Citigroup, Barclays, UBS, and Weiss Ratings.
• LegalZoom reported Q1 earnings of $0.12 per share, missing estimates by a penny, though revenue of $206.78 million beat expectations and rose 12.9% year over year. The stock was trading near $5.91, close to its 52-week low of $5.22.

LegalZoom.com (NASDAQ:LZ - Get Free Report) had its price objective cut by equities research analysts at JPMorgan Chase & Co. from $11.00 to $8.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 35.46% from the stock's previous close.

Several other equities analysts have also issued reports on LZ. Citigroup reduced their price target on LegalZoom.com from $8.50 to $7.50 and set a "neutral" rating on the stock in a research report on Friday, May 22nd. Barclays reissued an "underweight" rating and set a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a research note on Wednesday, March 4th. UBS Group cut their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded shares of LegalZoom.com from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, April 6th. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $8.25.

LegalZoom.com Stock Performance

NASDAQ LZ traded up $0.24 during trading hours on Wednesday, hitting $5.91. The company had a trading volume of 268,857 shares, compared to its average volume of 3,137,237. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 98.10, a PEG ratio of 0.97 and a beta of 1.31. LegalZoom.com has a 52 week low of $5.22 and a 52 week high of $12.40. The firm has a 50 day simple moving average of $6.16 and a 200 day simple moving average of $7.34.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The company had revenue of $206.78 million during the quarter, compared to analysts' expectations of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The company's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. On average, research analysts forecast that LegalZoom.com will post 0.32 earnings per share for the current year.

Insider Buying and Selling at LegalZoom.com

In other LegalZoom.com news, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction on Monday, May 18th. The stock was sold at an average price of $6.45, for a total value of $96,750.00. Following the completion of the sale, the chief financial officer owned 2,041,847 shares of the company's stock, valued at approximately $13,169,913.15. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeffrey M. Stibel bought 125,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was acquired at an average cost of $6.15 per share, with a total value of $768,750.00. Following the transaction, the chief executive officer owned 2,955,609 shares in the company, valued at $18,176,995.35. The trade was a 4.42% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 5.90% of the company's stock.

Hedge Funds Weigh In On LegalZoom.com

Institutional investors and hedge funds have recently bought and sold shares of the stock. EP Wealth Advisors LLC grew its position in shares of LegalZoom.com by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company's stock valued at $368,000 after purchasing an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of LegalZoom.com by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company's stock worth $51,000 after buying an additional 1,403 shares in the last quarter. Clearstead Advisors LLC boosted its stake in LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company's stock valued at $41,000 after buying an additional 1,441 shares during the last quarter. Prelude Capital Management LLC boosted its stake in LegalZoom.com by 11.6% during the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company's stock valued at $147,000 after buying an additional 1,470 shares during the last quarter. Finally, Chase Investment Counsel Corp grew its holdings in LegalZoom.com by 12.3% during the 4th quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company's stock valued at $135,000 after buying an additional 1,489 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

About LegalZoom.com

LegalZoom.com, Inc NASDAQ: LZ operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.

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