JPMorgan Chase & Co. Has Lowered Expectations for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its target price cut by research analysts at JPMorgan Chase & Co. from $14.00 to $11.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 58.62% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Citigroup lowered their price objective on LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of LegalZoom.com in a research report on Monday, December 29th. William Blair upgraded shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Wall Street Zen lowered shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Barclays increased their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.90.

LegalZoom.com Stock Up 1.1%

NASDAQ:LZ traded up $0.08 during mid-day trading on Wednesday, hitting $6.94. 568,802 shares of the stock traded hands, compared to its average volume of 3,803,718. The business’s 50-day moving average price is $9.17 and its 200 day moving average price is $9.82. LegalZoom.com has a 12-month low of $6.47 and a 12-month high of $12.40. The company has a market cap of $1.23 billion, a PE ratio of 57.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.22.

Institutional Trading of LegalZoom.com

Several hedge funds have recently added to or reduced their stakes in LZ. EP Wealth Advisors LLC increased its holdings in shares of LegalZoom.com by 2.8% in the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after buying an additional 1,139 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of LegalZoom.com by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after purchasing an additional 1,403 shares during the last quarter. Clearstead Advisors LLC raised its holdings in LegalZoom.com by 58.5% during the 3rd quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock valued at $41,000 after buying an additional 1,441 shares during the last quarter. Prelude Capital Management LLC boosted its position in LegalZoom.com by 11.6% during the 3rd quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock valued at $147,000 after buying an additional 1,470 shares during the period. Finally, Chase Investment Counsel Corp grew its holdings in LegalZoom.com by 12.3% in the 4th quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock worth $135,000 after acquiring an additional 1,489 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

About LegalZoom.com

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.