Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) Target Price at $11.50

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned an average rating of “Hold” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.50.

A number of brokerages recently commented on LZ. William Blair upgraded LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Morgan Stanley upped their price objective on shares of LegalZoom.com from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, November 13th. Zacks Research cut shares of LegalZoom.com from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Wall Street Zen lowered shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LegalZoom.com in a research report on Monday, December 29th.

Insider Activity

In other LegalZoom.com news, insider Nicole Miller sold 23,506 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total value of $226,362.78. Following the sale, the insider owned 868,627 shares in the company, valued at approximately $8,364,878.01. This represents a 2.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $9.56, for a total transaction of $143,400.00. Following the sale, the chief financial officer directly owned 1,551,582 shares in the company, valued at $14,833,123.92. The trade was a 0.96% decrease in their position. The SEC filing for this sale provides additional information. 5.90% of the stock is owned by company insiders.

Institutional Trading of LegalZoom.com

Several institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC lifted its stake in LegalZoom.com by 368.6% in the 3rd quarter. Voya Investment Management LLC now owns 406,847 shares of the company’s stock valued at $4,223,000 after buying an additional 320,026 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in LegalZoom.com during the 3rd quarter worth approximately $3,397,000. Y Intercept Hong Kong Ltd acquired a new position in shares of LegalZoom.com during the second quarter valued at approximately $3,340,000. Russell Investments Group Ltd. raised its holdings in shares of LegalZoom.com by 125.1% during the second quarter. Russell Investments Group Ltd. now owns 419,388 shares of the company’s stock valued at $3,729,000 after acquiring an additional 233,056 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of LegalZoom.com by 48.6% in the second quarter. JPMorgan Chase & Co. now owns 1,352,865 shares of the company’s stock valued at $12,054,000 after acquiring an additional 442,345 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Price Performance

NASDAQ LZ opened at $7.81 on Tuesday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 65.09, a PEG ratio of 1.29 and a beta of 1.22. The stock’s fifty day moving average price is $9.51 and its 200 day moving average price is $9.90. LegalZoom.com has a 1 year low of $6.47 and a 1 year high of $12.40.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.03). LegalZoom.com had a net margin of 3.05% and a return on equity of 9.91%. The firm had revenue of $190.16 million for the quarter, compared to analysts’ expectations of $183.27 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts expect that LegalZoom.com will post 0.25 earnings per share for the current year.

LegalZoom.com Company Profile

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.