LegalZoom.com (NASDAQ:LZ) Reaches New 52-Week High - Still a Buy?

Key Points

• LegalZoom.com, Inc. shares reached a new **52-week high** of **$11.17** during trading, up from a previous close of **$8.37**, indicating significant market interest.
• Analysts are showing **mixed sentiments** towards the stock, with Bank of America upgrading it to a **"buy"** rating and raising the price target from **$8.00 to $12.00**.
• The company reported quarterly earnings of **$0.15 per share**, matching estimates, with revenue of **$192.51 million**, marking an **8.5% increase** year-over-year.

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $10.99 and last traded at $11.17, with a volume of 366445 shares changing hands. The stock had previously closed at $8.37.

Wall Street Analyst Weigh In

LZ has been the topic of several research reports. Wall Street Zen raised LegalZoom.com from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. upped their price target on LegalZoom.com from $11.00 to $12.00 and gave the company an "overweight" rating in a research report on Monday, May 19th. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, May 15th. 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 report on Friday, May 9th. Finally, Bank of America raised LegalZoom.com from an "underperform" rating to a "buy" rating and upped their price target for the company from $8.00 to $12.00 in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $9.75.

LegalZoom.com Stock Performance

The stock has a 50 day moving average price of $8.95 and a two-hundred day moving average price of $8.77. The company has a market capitalization of $1.99 billion, a PE ratio of 68.63, a P/E/G ratio of 4.68 and a beta of 1.23.

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

Institutional Trading of LegalZoom.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LZ. Quantbot Technologies LP acquired a new stake in shares of LegalZoom.com during the 1st quarter worth approximately $29,000. State of Wyoming grew its holdings in shares of LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after purchasing an additional 2,475 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of LegalZoom.com by 2,750.6% during the 1st quarter. GAMMA Investing LLC now owns 9,635 shares of the company's stock worth $83,000 after purchasing an additional 9,297 shares in the last quarter. Quantessence Capital LLC acquired a new stake in shares of LegalZoom.com during the 4th quarter worth approximately $78,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of LegalZoom.com during the 1st quarter worth approximately $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.