Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) Price Target at $7.30

Shares of LegalZoom.com, Inc. (NASDAQ:LZGet Free Report) have earned an average recommendation of “Reduce” from the eight research firms that are currently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $7.30.

A number of research analysts recently commented on LZ shares. Wall Street Zen downgraded LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a research note on Thursday, July 2nd. UBS Group decreased 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. Citigroup dropped their target price on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $7.00 price target (down from $8.00) on shares of LegalZoom.com in a report on Thursday, August 6th.

Read Our Latest Analysis on LZ

LegalZoom.com Price Performance

Shares of NASDAQ:LZ opened at $5.90 on Friday. The business’s 50 day simple moving average is $6.68 and its 200 day simple moving average is $6.44. LegalZoom.com has a 1 year low of $5.22 and a 1 year high of $12.40. The company has a market capitalization of $1.01 billion, a P/E ratio of 65.56, a P/E/G ratio of 1.10 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZGet Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $205.29 million during the quarter, compared to analysts’ expectations of $205.83 million. LegalZoom.com had a return on equity of 15.83% and a net margin of 2.13%.The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. On average, sell-side analysts anticipate that LegalZoom.com will post 0.32 EPS for the current fiscal year.

Insider Activity at LegalZoom.com

In other LegalZoom.com news, CFO Noel Bertram Watson sold 416,371 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $5.91, for a total transaction of $2,460,752.61. Following the completion of the transaction, the chief financial officer directly owned 1,491,430 shares in the company, valued at $8,814,351.30. The trade was a 21.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Nicole Miller sold 43,996 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $5.51, for a total value of $242,417.96. Following the sale, the insider owned 976,932 shares of the company’s stock, valued at $5,382,895.32. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders have sold 577,475 shares of company stock valued at $3,375,197. Company insiders own 7.40% of the company’s stock.

Institutional Trading of LegalZoom.com

Institutional investors and hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC lifted its stake in shares of LegalZoom.com by 2.8% in the 2nd 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 during the period. EverSource Wealth Advisors LLC grew its stake in LegalZoom.com by 37.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after purchasing an additional 1,403 shares during the period. Prelude Capital Management LLC increased its holdings in LegalZoom.com by 11.6% in the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock worth $147,000 after purchasing an additional 1,470 shares in the last quarter. Chase Investment Counsel Corp increased its holdings in LegalZoom.com by 12.3% in the fourth quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock worth $135,000 after purchasing an additional 1,489 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in LegalZoom.com by 2.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock valued at $594,000 after buying an additional 1,705 shares during the period. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for LegalZoom.com (NASDAQ:LZ)

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