LegalZoom.com, Inc. (NASDAQ:LZ) Receives Average Rating of “Hold” from Brokerages

LegalZoom.com, Inc. (NASDAQ:LZ) has been given an average recommendation of “Hold” by the eight research firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.50.

A number of research analysts have recently issued reports on LZ shares. Citigroup reduced their price objective on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a report on Friday, November 21st. Morgan Stanley upped their target price on LegalZoom.com from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Thursday, November 13th. Weiss Ratings restated a “hold (c)” rating on shares of LegalZoom.com in a report on Monday, December 29th. Wall Street Zen downgraded LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 1st. Finally, Barclays boosted their target price on LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th.

Insider Activity

In other LegalZoom.com news, CFO Noel Bertram Watson sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $9.56, for a total transaction of $143,400.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Nicole Miller sold 23,506 shares of LegalZoom.com stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $9.63, for a total transaction of $226,362.78. Following the completion of the transaction, the insider owned 868,627 shares of the company’s stock, valued at $8,364,878.01. The trade was a 2.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 5.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC purchased a new stake in shares of LegalZoom.com during the third quarter worth $34,000. Parkside Financial Bank & Trust bought a new stake in shares of LegalZoom.com during the 3rd 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 valued at $41,000 after purchasing an additional 1,441 shares during the period. Osaic Holdings Inc. lifted its holdings in 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 purchasing an additional 3,766 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after purchasing an additional 4,140 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

LegalZoom.com Stock Down 0.1%

NASDAQ LZ opened at $10.33 on Friday. LegalZoom.com has a 52 week low of $6.47 and a 52 week high of $12.40. The business has a 50 day moving average price of $9.84 and a 200-day moving average price of $9.90. The company has a market cap of $1.83 billion, a price-to-earnings ratio of 86.09, a P/E/G ratio of 1.73 and a beta of 1.22.

LegalZoom.com (NASDAQ:LZ) last issued its earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $190.16 million during the quarter, compared to the consensus estimate of $183.27 million. LegalZoom.com had a return on equity of 9.91% and a net margin of 3.05%.LegalZoom.com’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts anticipate that LegalZoom.com will post 0.25 earnings per share for the current year.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.