LegalZoom.com’s (LZ) “Market Perform” Rating Reiterated at JMP Securities

JMP Securities reissued their market perform rating on shares of LegalZoom.com (NASDAQ:LZ) in a report released on Tuesday morning,Benzinga reports.

Several other research analysts have also recently issued reports on the company. UBS Group initiated coverage on LegalZoom.com in a research report on Friday, December 6th. They set a “neutral” rating and a $9.00 target price on the stock. Barclays lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Citigroup lifted their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their target price on LegalZoom.com from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lifted their price target on LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $9.06.

LegalZoom.com Stock Down 1.6 %

Shares of NASDAQ:LZ opened at $9.08 on Tuesday. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 69.85, a PEG ratio of 1.76 and a beta of 1.13. LegalZoom.com has a 12-month low of $5.33 and a 12-month high of $13.74. The business’s 50 day moving average is $8.28 and its 200 day moving average is $7.38.

Institutional Trading of LegalZoom.com

Several hedge funds have recently made changes to their positions in LZ. Nisa Investment Advisors LLC raised its stake in shares of LegalZoom.com by 179.8% in the third quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after buying an additional 3,919 shares during the period. Quarry LP raised its stake in shares of LegalZoom.com by 83.4% in the third quarter. Quarry LP now owns 8,206 shares of the company’s stock valued at $52,000 after buying an additional 3,732 shares during the period. Wexford Capital LP bought a new stake in shares of LegalZoom.com in the third quarter valued at $64,000. Creative Planning bought a new stake in shares of LegalZoom.com in the third quarter valued at $72,000. Finally, Aigen Investment Management LP bought a new stake in shares of LegalZoom.com in the fourth quarter valued at $76,000. 81.99% of the stock is currently owned by institutional investors.

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.