LegalZoom.com (NASDAQ:LZ) upgraded by Zacks Investment Research to hold
According to Zacks, “Legalzoom.com, Inc. provides legal services. The Company focuses on business formation, business changes, filings, trade compliance, trademarks, patents, copyrights, taxes, licenses, permits, agreements and additional services. Legalzoom.com Inc. is based in Glendale, USA. “
Several other analysts have also recently weighed in on the stock. Citigroup downgraded LegalZoom.com shares from a “neutral” to a “buy” rating and raised its price target for the company from $19.00 to $20.00 in a Wednesday research report April 20. JMP Securities reissued a “buy” rating and set a target price of $31.00 on shares of LegalZoom.com in a research note on Thursday, March 24. Barclays lowered its target price on LegalZoom.com shares from $32.00 to $17.00 and set an “overweight” rating on the stock in a Friday, March 11 research note. Jefferies Financial Group lowered its target price on LegalZoom.com shares from $24.00 to $17.00 in a Thursday, Jan. 6 research note. Finally, Morgan Stanley raised its price target on LegalZoom.com shares from $14.00 to $16.00 and gave the company an “equal weight” rating in a Wednesday, March 23 research note. Five equity research analysts gave the stock a hold rating and six gave the company a buy rating. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $26.25.
Shares of NASDAQ:LZ opened at $14.71 on Tuesday. The company’s 50-day moving average price is $14.43 and its 200-day moving average price is $17.41. LegalZoom.com has a fifty-two week minimum of $11.05 and a fifty-two week maximum of $40.94.
LegalZoom.com (NASDAQ:LZ – Get a rating) last released its quarterly earnings data on Thursday, March 10. The company reported earnings per share of $0.02 for the quarter, beating Thomson Reuters consensus estimate of $0.09 ($0.09) by $0.11. The company posted revenue of $142.14 million in the quarter, versus a consensus estimate of $143.70 million. The company’s revenue increased 16.3% year over year. On average, research analysts expect LegalZoom.com to post -0.21 earnings per share for the current fiscal year.
In other news, the General Counsel Nicole Miller sold 3,835 shares of the company in a transaction that took place on Friday, February 18. The shares were sold at an average price of $16.00, for a total transaction of $61,360.00. The transaction was disclosed in a document filed with the SEC, accessible via this link. Also, CFO Noel Bertram Watson sold 12,023 shares of the company in a transaction that took place on Friday, February 18. The shares were sold at an average price of $16.00, for a total transaction of $192,368.00. Disclosure of this sale can be found here. Insiders sold a total of 59,673 shares of the company worth $927,946 in the past ninety days.
Several hedge funds have recently increased or reduced their holdings in LZ. Covestor Ltd bought a new position in LegalZoom.com during the fourth quarter worth approximately $25,000. Citigroup Inc. bought a new position in LegalZoom.com during the third quarter worth approximately $30,000. Point72 Hong Kong Ltd bought a new position in LegalZoom.com during the third quarter worth approximately $35,000. Royal Bank of Canada bought a new position in LegalZoom.com during the third quarter worth approximately $73,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new position in LegalZoom.com during the third quarter worth approximately $79,000. Institutional investors and hedge funds own 51.19% of the company’s shares.
LegalZoom.com Company Profile (Get a rating)
LegalZoom.com, Inc operates an online legal and compliance solutions platform in the United States. The Company’s platform offers products and services, including business training, creation of estate planning documents, intellectual property protection, completion of certain forms and agreements, access to attorney advice freelancers and connecting clients with experts for tax preparation and accounting services.
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