LegalZoom.com (NASDAQ:LZ) Given New $8.00 Price Target at Barclays

LegalZoom.com (NASDAQ:LZ) had its price objective hoisted by Barclays from $7.00 to $8.00 in a research note released on Monday morning,Benzinga reports. Barclays currently has an equal weight rating on the stock.

Several other equities analysts have also recently commented on LZ. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $8.00 price objective on shares of LegalZoom.com in a research note on Friday, November 8th. William Blair began coverage on LegalZoom.com in a research note on Monday, September 16th. They issued a “market perform” rating for the company. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a research report on Friday, September 13th. Finally, Jefferies Financial Group upgraded LegalZoom.com from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $8.67.

LegalZoom.com Stock Performance

Shares of LZ opened at $7.95 on Monday. LegalZoom.com has a 52 week low of $5.33 and a 52 week high of $13.74. The stock has a 50 day moving average price of $6.97 and a two-hundred day moving average price of $7.53. The firm has a market capitalization of $1.37 billion, a P/E ratio of 61.47, a P/E/G ratio of 1.84 and a beta of 1.06.

LegalZoom.com (NASDAQ:LZ) last posted its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The firm had revenue of $168.60 million for the quarter, compared to analysts’ expectations of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. On average, equities analysts forecast that LegalZoom.com will post 0.25 earnings per share for the current year.

Institutional Trading of LegalZoom.com

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its position in shares of LegalZoom.com by 318.9% during the second quarter. Quarry LP now owns 4,474 shares of the company’s stock valued at $38,000 after buying an additional 3,406 shares during the last quarter. 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 worth $39,000 after purchasing an additional 3,919 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in LegalZoom.com during the 2nd quarter valued at approximately $71,000. Creative Planning acquired a new stake in shares of LegalZoom.com in the third quarter worth $72,000. Finally, Paloma Partners Management Co acquired a new position in LegalZoom.com during the third quarter valued at $81,000. 81.99% of the stock is owned by hedge funds and other 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.