Citigroup Issues Pessimistic Forecast for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its target price decreased by Citigroup from $6.00 to $5.50 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup‘s price target suggests a potential upside of 16.65% from the company’s current price.

A number of other equities research analysts also recently weighed in on the company. Wall Street Zen downgraded LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America downgraded shares of LegalZoom.com from a “buy” rating to an “underperform” rating in a research report on Thursday, November 5th. William Blair cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. decreased their price target on shares of LegalZoom.com from $7.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 5th. Finally, Weiss Ratings cut LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 29th. Five analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $6.70.

LegalZoom.com Trading Down 2.8%

Shares of LZ traded down $0.14 during trading hours on Tuesday, reaching $4.71. 1,672,354 shares of the stock traded hands, compared to its average volume of 2,995,796. The company’s 50-day moving average price is $6.12 and its two-hundred day moving average price is $6.48. The company has a market cap of $807.49 million, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 1.30 and a beta of 1.16. LegalZoom.com has a 52-week low of $4.54 and a 52-week high of $10.51.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $0.19 EPS for the quarter, meeting analysts’ consensus estimates of $0.19. LegalZoom.com had a net margin of 2.56% and a return on equity of 23.09%. The firm had revenue of $195.15 million during the quarter, compared to the consensus estimate of $193.83 million. During the same quarter last year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, research analysts forecast that LegalZoom.com will post 0.32 EPS for the current year.

Insider Transactions at LegalZoom.com

In other LegalZoom.com news, insider Nicole Miller sold 43,996 shares of the business’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $5.51, for a total value of $242,417.96. Following the transaction, the insider directly owned 976,932 shares in the company, valued at $5,382,895.32. The trade was a 4.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Noel Watson sold 416,371 shares of the stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $5.91, for a total transaction of $2,460,752.61. Following the completion of the sale, the chief financial officer directly owned 1,491,430 shares of the company’s stock, valued at approximately $8,814,351.30. This trade represents a 21.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 577,475 shares of company stock worth $3,375,197 over the last ninety days. 7.40% of the stock is owned by insiders.

Institutional Trading of LegalZoom.com

Institutional investors have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC increased its stake in LegalZoom.com by 289.3% during the second quarter. Squarepoint Ops LLC now owns 269,974 shares of the company’s stock worth $1,655,000 after purchasing an additional 200,618 shares during the period. Bank of America Corp DE grew its holdings in shares of LegalZoom.com by 187.4% in the first quarter. Bank of America Corp DE now owns 2,509,891 shares of the company’s stock valued at $14,231,000 after purchasing an additional 1,636,487 shares in the last quarter. Pacer Advisors Inc. increased its stake in LegalZoom.com by 53.6% during the 1st quarter. Pacer Advisors Inc. now owns 926,425 shares of the company’s stock worth $5,253,000 after buying an additional 323,201 shares during the period. Walleye Capital LLC increased its stake in LegalZoom.com by 172.5% during the 1st quarter. Walleye Capital LLC now owns 354,031 shares of the company’s stock worth $2,007,000 after buying an additional 224,100 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in LegalZoom.com during the 1st quarter worth approximately $1,923,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

About LegalZoom.com

LegalZoom.com, Inc. provides online legal and compliance services to individuals and small businesses. Its platform helps customers complete common legal tasks through guided tools and access to professional services. Services include forming limited liability companies and corporations, registered agent services, business compliance support, trademark applications, and personal legal documents such as wills and estate plans. The company also offers access to attorneys for legal advice and assistance.