LegalZoom.com (NASDAQ:LZ) Earns Market Perform Rating from Analysts at Raymond James

Raymond James initiated coverage on shares of LegalZoom.com (NASDAQ:LZ) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage issued a market perform rating on the stock.

Several other equities analysts have also commented on LZ. Barclays dropped their price target on shares of LegalZoom.com from $17.00 to $15.00 and set an overweight rating on the stock in a research note on Thursday, February 8th. JMP Securities reiterated a market outperform rating and set a $14.00 price objective on shares of LegalZoom.com in a research report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. raised their price target on LegalZoom.com from $14.00 to $16.00 and gave the stock an overweight rating in a research note on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $14.36.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $13.34 on Wednesday. LegalZoom.com has a fifty-two week low of $6.89 and a fifty-two week high of $15.68. The company’s 50-day simple moving average is $11.75 and its 200-day simple moving average is $11.13. The stock has a market capitalization of $2.51 billion, a P/E ratio of 166.77, a P/E/G ratio of 1.43 and a beta of 1.21.

LegalZoom.com (NASDAQ:LZ) last released its earnings results on Thursday, February 22nd. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The business had revenue of $158.66 million during the quarter, compared to analyst estimates of $156.25 million. LegalZoom.com had a net margin of 2.11% and a return on equity of 15.79%. On average, research analysts forecast that LegalZoom.com will post 0.25 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Nicole Miller sold 16,536 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $10.64, for a total transaction of $175,943.04. Following the sale, the executive vice president now directly owns 233,198 shares of the company’s stock, valued at $2,481,226.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other LegalZoom.com news, EVP Nicole Miller sold 16,536 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $10.64, for a total value of $175,943.04. Following the transaction, the executive vice president now directly owns 233,198 shares of the company’s stock, valued at approximately $2,481,226.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Richard Preece sold 9,462 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $13.17, for a total value of $124,614.54. Following the transaction, the chief operating officer now directly owns 498,519 shares in the company, valued at approximately $6,565,495.23. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,555 shares of company stock worth $664,688. 44.60% of the stock is owned by company insiders.

Institutional Trading of LegalZoom.com

Several institutional investors have recently modified their holdings of LZ. Quarry LP bought a new position in LegalZoom.com in the 2nd quarter valued at $28,000. DekaBank Deutsche Girozentrale bought a new stake in shares of LegalZoom.com in the third quarter valued at about $31,000. Lazard Asset Management LLC raised its holdings in LegalZoom.com by 117.8% during the third quarter. Lazard Asset Management LLC now owns 2,858 shares of the company’s stock worth $31,000 after acquiring an additional 1,546 shares in the last quarter. Great West Life Assurance Co. Can bought a new stake in LegalZoom.com during the second quarter worth about $42,000. Finally, Parkside Financial Bank & Trust raised its stake in LegalZoom.com by 116.4% in the third quarter. Parkside Financial Bank & Trust now owns 3,722 shares of the company’s stock valued at $41,000 after buying an additional 2,002 shares during the period. 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.