LegalZoom.com (NASDAQ:LZ) Price Target Lowered to $10.50 at Citigroup

LegalZoom.com (NASDAQ:LZ) had its price target reduced by Citigroup from $12.00 to $10.50 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other brokerages have also issued reports on LZ. JPMorgan Chase & Co. raised their price objective on LegalZoom.com from $12.00 to $14.00 and gave the stock an “overweight” rating in a report on Monday, September 8th. William Blair raised LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Weiss Ratings restated a “hold (c)” rating on shares of LegalZoom.com in a research note on Monday. Bank of America upgraded LegalZoom.com from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $8.00 to $12.00 in a research note on Friday, August 8th. Finally, Barclays increased their price objective on LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, LegalZoom.com currently has a consensus rating of “Hold” and a consensus price target of $11.08.

LegalZoom.com Stock Performance

Shares of NASDAQ:LZ traded up $0.08 on Friday, hitting $9.10. 1,904,499 shares of the company’s stock were exchanged, compared to its average volume of 2,353,549. The firm’s 50-day moving average is $10.19 and its 200 day moving average is $9.72. The company has a market capitalization of $1.61 billion, a PE ratio of 75.84, a P/E/G ratio of 3.35 and a beta of 1.23. LegalZoom.com has a 1-year low of $6.47 and a 1-year high of $12.40.

LegalZoom.com (NASDAQ:LZ) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). LegalZoom.com had a return on equity of 9.91% and a net margin of 3.05%.The company had revenue of $190.16 million for the quarter, compared to analyst estimates of $183.27 million. During the same period in the previous year, the business posted $0.17 EPS. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. LegalZoom.com has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts anticipate that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Insider Buying and Selling at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $9.56, for a total transaction of $143,400.00. Following the transaction, the chief financial officer directly owned 1,551,582 shares of the company’s stock, valued at $14,833,123.92. This represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Nicole Miller sold 23,506 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $9.63, for a total transaction of $226,362.78. Following the completion of the sale, the insider owned 868,627 shares of the company’s stock, valued at $8,364,878.01. This trade represents a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,825 shares of company stock worth $672,184 over the last 90 days. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On LegalZoom.com

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in LegalZoom.com during the first quarter worth $29,000. Exchange Traded Concepts LLC acquired a new stake in LegalZoom.com in the third quarter valued at $34,000. Parkside Financial Bank & Trust purchased a new position in shares of LegalZoom.com in the third quarter valued at $40,000. Clearstead Advisors LLC raised its stake in shares of LegalZoom.com by 58.5% during the 3rd quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares during the last quarter. Finally, Osaic Holdings Inc. raised its stake in shares of LegalZoom.com by 477.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after buying an additional 3,766 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

About LegalZoom.com

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company’s platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.