Morgan Stanley Cuts LegalZoom.com (NASDAQ:LZ) Price Target to $7.00

LegalZoom.com (NASDAQ:LZ - Get Free Report) had its price objective decreased by investment analysts at Morgan Stanley from $10.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Morgan Stanley's target price points to a potential upside of 5.90% from the stock's current price.

Other equities research analysts have also recently issued research reports about the company. JMP Securities reissued a "market perform" rating on shares of LegalZoom.com in a research note on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 11th. Barclays lifted 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. Finally, William Blair reiterated a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $9.06.

LegalZoom.com Stock Down 4.8 %

Shares of LegalZoom.com stock traded down $0.33 during mid-day trading on Wednesday, hitting $6.61. The stock had a trading volume of 2,064,137 shares, compared to its average volume of 1,818,735. The firm has a market cap of $1.16 billion, a P/E ratio of 50.85, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. The firm has a 50-day moving average of $8.76 and a two-hundred day moving average of $8.18. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $12.55.

Institutional Investors Weigh In On LegalZoom.com

A number of large investors have recently bought and sold shares of LZ. Vanguard Group Inc. raised its holdings in shares of LegalZoom.com by 14.5% in the fourth quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after acquiring an additional 2,574,700 shares during the last quarter. Nuveen Asset Management LLC raised its stake in LegalZoom.com by 297.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock valued at $8,799,000 after purchasing an additional 877,125 shares during the last quarter. Norges Bank purchased a new position in LegalZoom.com in the 4th quarter valued at about $5,769,000. Ararat Capital Management LP boosted its stake in shares of LegalZoom.com by 26.6% during the 4th quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock worth $24,396,000 after purchasing an additional 682,678 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of LegalZoom.com by 103.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company's stock worth $8,662,000 after buying an additional 585,734 shares in the last quarter. Institutional investors and hedge funds 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.