LegalZoom.com, Inc. (NASDAQ:LZ) Given Average Recommendation of “Hold” by Brokerages

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have earned a consensus recommendation of “Hold” from the nine research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have given 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 $11.50.

LZ has been the topic of several recent analyst reports. Wall Street Zen cut LegalZoom.com from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Barclays lifted their price target on shares of LegalZoom.com from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. William Blair raised shares of LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 6th. Zacks Research cut shares of LegalZoom.com from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Finally, Citigroup reduced their target price on shares of LegalZoom.com from $12.00 to $10.50 and set a “neutral” rating for the company in a research note on Friday, November 21st.

LegalZoom.com Stock Up 3.1%

Shares of LZ stock opened at $8.05 on Tuesday. LegalZoom.com has a 12-month low of $6.47 and a 12-month high of $12.40. The firm has a fifty day moving average of $9.49 and a 200-day moving average of $9.91. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 67.09, a price-to-earnings-growth ratio of 1.36 and a beta of 1.22.

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

Insider Transactions at LegalZoom.com

In related news, CFO Noel Bertram Watson sold 15,000 shares of LegalZoom.com stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $9.56, for a total value of $143,400.00. Following the sale, the chief financial officer owned 1,551,582 shares of the company’s stock, valued at approximately $14,833,123.92. This trade represents a 0.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicole Miller sold 23,506 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 868,627 shares in the company, valued at approximately $8,364,878.01. This represents a 2.63% decrease in their position. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of LegalZoom.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in LZ. EP Wealth Advisors LLC grew its position in shares of LegalZoom.com by 2.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock worth $368,000 after purchasing an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of LegalZoom.com by 37.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock valued at $51,000 after buying an additional 1,403 shares during the period. Clearstead Advisors LLC grew its position in LegalZoom.com by 58.5% during the third quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares in the last quarter. Prelude Capital Management LLC grew its position in LegalZoom.com by 11.6% during the third quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock worth $147,000 after buying an additional 1,470 shares in the last quarter. Finally, Chase Investment Counsel Corp increased its stake in LegalZoom.com by 12.3% during the 4th quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock worth $135,000 after acquiring an additional 1,489 shares during the period. 81.99% of the stock is owned by institutional investors.

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.