LegalZoom.com (NASDAQ:LZ) Price Target Cut to $7.00

LegalZoom.com (NASDAQ:LZGet Rating) had its price objective cut by stock analysts at Morgan Stanley from $9.00 to $7.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 15.25% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. JMP Securities downgraded LegalZoom.com from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 6th. Barclays decreased their price objective on LegalZoom.com to $16.00 in a report on Monday, August 15th. Finally, Credit Suisse Group decreased their price objective on LegalZoom.com from $24.00 to $19.00 and set an “outperform” rating for the company in a report on Friday, August 12th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, LegalZoom.com currently has a consensus rating of “Hold” and a consensus price target of $19.88.

LegalZoom.com Stock Performance

NASDAQ:LZ opened at $8.26 on Wednesday. The firm has a market cap of $1.61 billion, a PE ratio of -15.58 and a beta of 0.30. LegalZoom.com has a fifty-two week low of $8.07 and a fifty-two week high of $30.28. The business has a 50 day moving average price of $10.49 and a 200-day moving average price of $12.18.

LegalZoom.com (NASDAQ:LZGet Rating) last announced its quarterly earnings results on Thursday, August 11th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). LegalZoom.com had a negative return on equity of 49.38% and a negative net margin of 17.14%. The company had revenue of $163.87 million during the quarter, compared to analyst estimates of $161.29 million. During the same quarter last year, the firm posted ($0.30) earnings per share. The firm’s revenue was up 8.9% on a year-over-year basis. Research analysts predict that LegalZoom.com will post -0.2 EPS for the current year.

Insiders Place Their Bets

In other LegalZoom.com news, CFO Noel Bertram Watson sold 23,643 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $11.46, for a total value of $270,948.78. Following the transaction, the chief financial officer now directly owns 496,188 shares of the company’s stock, valued at $5,686,314.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other LegalZoom.com news, CFO Noel Bertram Watson sold 23,643 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $11.46, for a total value of $270,948.78. Following the transaction, the chief financial officer now directly owns 496,188 shares of the company’s stock, valued at $5,686,314.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Richard Preece sold 15,930 shares of LegalZoom.com stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $11.46, for a total value of $182,557.80. Following the transaction, the chief operating officer now directly owns 344,465 shares in the company, valued at $3,947,568.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 88,370 shares of company stock valued at $1,012,720. Insiders own 45.90% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Spearhead Capital Advisors LLC bought a new stake in LegalZoom.com during the 1st quarter valued at approximately $285,000. Victory Capital Management Inc. raised its stake in LegalZoom.com by 9.1% during the 1st quarter. Victory Capital Management Inc. now owns 12,821 shares of the company’s stock valued at $184,000 after purchasing an additional 1,068 shares during the period. Premier Fund Managers Ltd bought a new stake in LegalZoom.com during the 1st quarter valued at approximately $2,503,000. Hawk Ridge Capital Management LP raised its stake in LegalZoom.com by 143.8% during the 1st quarter. Hawk Ridge Capital Management LP now owns 3,906,537 shares of the company’s stock valued at $55,238,000 after purchasing an additional 2,303,988 shares during the period. Finally, Cubist Systematic Strategies LLC raised its stake in LegalZoom.com by 517.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 439,300 shares of the company’s stock valued at $7,060,000 after purchasing an additional 368,197 shares during the period. 71.24% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Company Profile

(Get Rating)

LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.

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