JPMorgan Chase & Co. Forecasts Strong Price Appreciation for LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com (NASDAQ:LZ) had its price target increased by JPMorgan Chase & Co. from $9.00 to $11.00 in a research note released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other equities research analysts have also weighed in on the company. Citigroup boosted their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Barclays boosted their price objective 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. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a report on Friday, January 31st. UBS Group assumed coverage on LegalZoom.com in a report on Friday, December 6th. They set a “neutral” rating and a $9.00 target price on the stock. Finally, Morgan Stanley lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, LegalZoom.com has a consensus rating of “Hold” and an average price target of $9.06.

LegalZoom.com Stock Performance

Shares of LZ opened at $9.30 on Tuesday. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $13.74. The business’s fifty day moving average is $8.24 and its 200-day moving average is $7.35. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 71.54, a PEG ratio of 1.76 and a beta of 1.13.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LZ. Lexington Partners L.P. acquired a new position in LegalZoom.com during the 4th quarter worth approximately $103,000. Vanguard Group Inc. raised its stake in LegalZoom.com by 14.5% during the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company’s stock worth $152,241,000 after buying an additional 2,574,700 shares during the period. KLP Kapitalforvaltning AS acquired a new position in LegalZoom.com during the 4th quarter worth approximately $161,000. Sei Investments Co. acquired a new position in LegalZoom.com during the 4th quarter worth approximately $83,000. Finally, American Century Companies Inc. raised its stake in LegalZoom.com by 24.7% during the 4th quarter. American Century Companies Inc. now owns 319,878 shares of the company’s stock worth $2,402,000 after buying an additional 63,392 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

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.