LegalZoom.com (NASDAQ:LZ) Trading Up 5.4% – Here’s Why

LegalZoom.com, Inc. (NASDAQ:LZ)’s share price shot up 5.4% on Monday . The company traded as high as $8.92 and last traded at $8.89. 504,793 shares were traded during trading, a decline of 56% from the average session volume of 1,154,788 shares. The stock had previously closed at $8.43.

Analyst Upgrades and Downgrades

A number of research firms have commented on LZ. Morgan Stanley raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Citigroup boosted their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. raised LegalZoom.com from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $8.00 to $9.00 in a research note on Monday, January 13th. UBS Group assumed coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 price objective for the company. Finally, Barclays upped their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, LegalZoom.com presently has an average rating of “Hold” and an average target price of $8.81.

LegalZoom.com Stock Up 5.3 %

The company’s 50-day moving average is $7.94 and its two-hundred day moving average is $7.13. The company has a market capitalization of $1.53 billion, a P/E ratio of 67.97, a PEG ratio of 1.58 and a beta of 1.10.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. LegalZoom.com had a return on equity of 32.88% and a net margin of 3.61%. The business had revenue of $168.60 million for the quarter, compared to the consensus estimate of $167.66 million. During the same quarter last year, the business posted $0.05 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts predict that LegalZoom.com, Inc. will post 0.25 EPS for the current year.

Institutional Trading of LegalZoom.com

Institutional investors have recently made changes to their positions in the stock. Oak Harvest Investment Services bought a new position in LegalZoom.com in the fourth quarter worth $751,000. Brighton Jones LLC bought a new position in LegalZoom.com during the fourth quarter valued at approximately $185,000. SG Americas Securities LLC boosted its stake in shares of LegalZoom.com by 44.8% in the 4th quarter. SG Americas Securities LLC now owns 90,104 shares of the company’s stock worth $677,000 after buying an additional 27,867 shares during the last quarter. JPMorgan Chase & Co. boosted its position in LegalZoom.com by 14.4% in the third quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock worth $3,605,000 after purchasing an additional 71,291 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in LegalZoom.com by 4.5% during the third quarter. Franklin Resources Inc. now owns 3,067,987 shares of the company’s stock valued at $20,310,000 after buying an additional 132,189 shares during the period. Hedge funds and other institutional investors 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.