LegalZoom.com, Inc. (NASDAQ:LZ) Stock Has Average Target Price of $7.30

LegalZoom.com, Inc. (NASDAQ:LZ) has received a consensus recommendation of “Reduce” from the nine brokerages that are presently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $7.10.

Several research analysts recently issued reports on LZ shares. Wall Street Zen lowered shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research report on Saturday. William Blair cut LegalZoom.com from an “outperform” rating to a “market perform” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 29th. Bank of America lowered LegalZoom.com from a “buy” rating to an “underperform” rating in a research note on Thursday, November 5th. Finally, JPMorgan Chase & Co. dropped their price target on LegalZoom.com from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Thursday, November 5th.

Insider Transactions at LegalZoom.com

In other LegalZoom.com news, CFO Noel Watson sold 416,371 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $5.91, for a total value of $2,460,752.61. Following the completion of the sale, the chief financial officer owned 1,491,430 shares of the company’s stock, valued at $8,814,351.30. This represents a 21.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Nicole Miller sold 43,996 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $5.51, for a total value of $242,417.96. Following the completion of the sale, the insider directly owned 976,932 shares of the company’s stock, valued at approximately $5,382,895.32. This represents a 4.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders have sold 577,475 shares of company stock worth $3,375,197. 7.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On LegalZoom.com

A number of hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. raised its position in LegalZoom.com by 98.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 881,567 shares of the company’s stock worth $4,923,000 after purchasing an additional 436,619 shares during the period. Maryland State Retirement & Pension System lifted its stake in LegalZoom.com by 56.9% in the third quarter. Maryland State Retirement & Pension System now owns 25,631 shares of the company’s stock worth $144,000 after purchasing an additional 9,291 shares during the last quarter. StoneX Group Inc. purchased a new stake in LegalZoom.com during the third quarter valued at about $85,000. CenterBook Partners LP boosted its position in LegalZoom.com by 6.0% during the third quarter. CenterBook Partners LP now owns 362,629 shares of the company’s stock valued at $2,034,000 after buying an additional 20,412 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in LegalZoom.com during the third quarter valued at about $503,000. 81.99% of the stock is currently owned by institutional investors.

LegalZoom.com Price Performance

LZ stock opened at $4.85 on Thursday. LegalZoom.com has a one year low of $4.78 and a one year high of $10.51. The stock has a market cap of $830.61 million, a PE ratio of 40.42, a P/E/G ratio of 1.30 and a beta of 1.16. The firm has a 50 day simple moving average of $6.12 and a two-hundred day simple moving average of $6.48.

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

About LegalZoom.com

LegalZoom.com, Inc is an online platform that provides legal, compliance and tax-related products and services to individuals, families and small businesses. The company’s platform is designed to make common legal and administrative processes more accessible through digital tools, guided services and access to independent professionals.

LegalZoom’s offerings include business formation services for limited liability companies and corporations, registered-agent services, annual compliance support, business licensing and trademark services.