Wall Street Zen Upgrades LegalZoom.com (NASDAQ:LZ) to "Strong-Buy"

LegalZoom.com (NASDAQ:LZ - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Friday.

Several other brokerages have also issued reports on LZ. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, May 15th. William Blair reissued a "market perform" rating on shares of LegalZoom.com in a research report on Thursday, February 27th. Morgan Stanley increased their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Friday, May 9th. JPMorgan Chase & Co. increased their target price on LegalZoom.com from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Monday, May 19th. Finally, Barclays raised their price objective on LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $8.64.

LegalZoom.com Stock Performance

LZ stock traded up $0.08 during trading on Friday, hitting $9.18. 1,893,281 shares of the company traded hands, compared to its average volume of 1,782,789. The firm has a market capitalization of $1.66 billion, a PE ratio of 70.62, a P/E/G 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 $10.60. The company has a 50-day moving average of $8.17 and a 200-day moving average of $8.43.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.13 earnings per share for the quarter, meeting the consensus estimate of $0.13. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The company had revenue of $183.11 million during the quarter, compared to analysts' expectations of $176.17 million. During the same period in the prior year, the business posted $0.09 EPS. LegalZoom.com's quarterly revenue was up 5.1% compared to the same quarter last year. Sell-side analysts expect that LegalZoom.com will post 0.25 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LZ. Quantbot Technologies LP bought a new stake in shares of LegalZoom.com in the 1st quarter worth $29,000. State of Wyoming increased 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 purchasing an additional 2,475 shares in the last quarter. Aigen Investment Management LP bought a new stake in shares of LegalZoom.com in the 4th quarter worth $76,000. Olympiad Research LP bought a new stake in shares of LegalZoom.com in the 4th quarter worth $78,000. Finally, Quantessence Capital LLC bought a new stake in shares of LegalZoom.com in the 4th quarter worth $78,000. Institutional investors own 81.99% of the company's stock.

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.