LegalZoom.com (NASDAQ:LZ) Receives Market Perform Rating from William Blair

LegalZoom.com (NASDAQ:LZ)‘s stock had its “market perform” rating restated by investment analysts at William Blair in a research report issued to clients and investors on Thursday,RTT News reports.

A number of other brokerages have also recently issued reports on LZ. Morgan Stanley raised their price objective on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. Barclays increased their price objective on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group started coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They issued a “neutral” rating and a $9.00 target price on the stock. Finally, Citigroup upped their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, LegalZoom.com has an average rating of “Hold” and an average price target of $9.19.

LegalZoom.com Stock Performance

LZ stock opened at $10.16 on Thursday. The firm has a market cap of $1.76 billion, a P/E ratio of 78.16, a P/E/G ratio of 1.73 and a beta of 1.13. The firm’s fifty day moving average is $8.53 and its 200 day moving average is $7.61. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC raised its holdings in LegalZoom.com by 308.5% in the third quarter. Barclays PLC now owns 224,782 shares of the company’s stock worth $1,427,000 after purchasing an additional 169,761 shares in the last quarter. Mainstream Capital Management LLC bought a new position in shares of LegalZoom.com in the 3rd quarter worth about $1,429,000. JPMorgan Chase & Co. lifted its position in LegalZoom.com by 14.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 567,675 shares of the company’s stock valued at $3,605,000 after acquiring an additional 71,291 shares during the period. Oak Harvest Investment Services bought a new stake in LegalZoom.com during the fourth quarter worth about $751,000. Finally, Victory Capital Management Inc. grew its holdings in LegalZoom.com by 97.2% in the third quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock worth $824,000 after purchasing an additional 63,980 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.