LegalZoom.com (NASDAQ:LZ) Price Target Raised to $9.00

LegalZoom.com (NASDAQ:LZ) had its price objective lifted by Morgan Stanley from $8.50 to $9.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Bank of America raised LegalZoom.com from an “underperform” rating to a “buy” rating and raised their price objective for the company from $8.00 to $12.00 in a research note on Friday, August 8th. JPMorgan Chase & Co. boosted their target price on LegalZoom.com from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Citigroup boosted their price objective on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Monday, August 25th. Finally, Barclays upped their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $11.33.

LegalZoom.com Stock Performance

LZ opened at $10.01 on Thursday. The business’s 50-day simple moving average is $10.30 and its 200-day simple moving average is $9.66. LegalZoom.com has a one year low of $6.47 and a one year high of $12.40. The company has a market cap of $1.77 billion, a P/E ratio of 83.42, a PEG ratio of 3.50 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, November 5th. The company reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). LegalZoom.com had a net margin of 3.05% and a return on equity of 9.91%. The company had revenue of $190.16 million during the quarter, compared to analysts’ expectations of $183.27 million. During the same period last year, the business earned $0.17 earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. LegalZoom.com has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, analysts predict that LegalZoom.com will post 0.25 earnings per share for the current fiscal year.

Insider Activity at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 27,319 shares of LegalZoom.com stock in a transaction on Monday, August 25th. The stock was sold at an average price of $11.07, for a total value of $302,421.33. Following the completion of the sale, the chief financial officer owned 1,676,426 shares of the company’s stock, valued at $18,558,035.82. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicole Miller sold 25,154 shares of the stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $10.82, for a total value of $272,166.28. Following the transaction, the insider owned 960,032 shares in the company, valued at $10,387,546.24. This trade represents a 2.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 85,609 shares of company stock valued at $936,778 over the last ninety days. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LegalZoom.com

A number of large investors have recently modified their holdings of LZ. Brighton Jones LLC purchased a new position in shares of LegalZoom.com in the fourth quarter valued at $185,000. Teacher Retirement System of Texas bought a new position in shares of LegalZoom.com during the first quarter worth about $147,000. Cerity Partners LLC raised its stake in LegalZoom.com by 190.2% during the 1st quarter. Cerity Partners LLC now owns 46,179 shares of the company’s stock valued at $398,000 after acquiring an additional 30,266 shares in the last quarter. Arizona State Retirement System grew its position in LegalZoom.com by 6.1% in the 1st quarter. Arizona State Retirement System now owns 29,728 shares of the company’s stock valued at $256,000 after buying an additional 1,697 shares in the last quarter. Finally, CWM LLC raised its holdings in LegalZoom.com by 608.5% during the first quarter. CWM LLC now owns 51,795 shares of the company’s stock worth $446,000 after purchasing an additional 44,484 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.