LegalZoom.com (NASDAQ:LZ) Shares Gap Up - Time to Buy?

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $9.18, but opened at $9.52. LegalZoom.com shares last traded at $9.38, with a volume of 192,544 shares traded.

Analysts Set New Price Targets

A number of research firms recently issued reports on LZ. Barclays raised their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock 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 report on Thursday, February 27th. Wall Street Zen upgraded shares of LegalZoom.com from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on shares of LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Two analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.64.

LegalZoom.com Stock Down 0.1%

The business's 50-day moving average price is $8.17 and its 200 day moving average price is $8.44. The company has a market capitalization of $1.67 billion, a P/E ratio of 70.77, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.13 EPS for the quarter, meeting analysts' consensus estimates of $0.13. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company had revenue of $183.11 million during the quarter, compared to analyst estimates of $176.17 million. During the same period last year, the business earned $0.09 earnings per share. LegalZoom.com's revenue was up 5.1% compared to the same quarter last year. Analysts anticipate that LegalZoom.com, Inc. will post 0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On LegalZoom.com

Several hedge funds have recently bought and sold shares of LZ. Quantbot Technologies LP bought a new stake in shares of LegalZoom.com in the 1st quarter worth approximately $29,000. State of Wyoming lifted 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 worth $63,000 after acquiring an additional 2,475 shares during the last quarter. Aigen Investment Management LP purchased a new position in shares of LegalZoom.com in the fourth quarter worth $76,000. Olympiad Research LP purchased a new position in shares of LegalZoom.com in the fourth quarter worth $78,000. Finally, Quantessence Capital LLC purchased a new position in shares of LegalZoom.com in the fourth quarter worth $78,000. 81.99% of the stock is currently owned by institutional investors.

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.