LegalZoom.com, Inc. (NASDAQ:LZ) Receives Consensus Recommendation of “Hold” from Analysts

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $9.19.

A number of analysts have weighed in on the stock. UBS Group assumed coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They set a “neutral” rating and a $9.00 target price on the stock. William Blair reiterated a “market perform” rating on shares of LegalZoom.com in a report on Thursday, February 27th. Citigroup lifted their price target on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Barclays lifted their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Finally, Morgan Stanley lifted their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Monday, January 13th.

Hedge Funds Weigh In On LegalZoom.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP lifted its holdings in 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. State of Wyoming increased its stake in LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company’s stock valued at $63,000 after purchasing an additional 2,475 shares in the last quarter. Wexford Capital LP bought a new stake in LegalZoom.com in the third quarter valued at $64,000. Aigen Investment Management LP bought a new stake in LegalZoom.com in the fourth quarter valued at $76,000. Finally, Olympiad Research LP bought a new stake in LegalZoom.com in the fourth quarter valued at $78,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Stock Performance

NASDAQ LZ opened at $9.32 on Friday. The firm’s fifty day moving average price is $9.08 and its two-hundred day moving average price is $7.95. The stock has a market cap of $1.64 billion, a PE ratio of 71.70, a PEG ratio of 1.73 and a beta of 1.09. LegalZoom.com has a fifty-two week low of $5.33 and a fifty-two week high of $13.56.

LegalZoom.com Company Profile

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.