Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) Target Price at $10.42

LegalZoom.com, Inc. (NASDAQ:LZ) has been assigned a consensus rating of “Hold” from the ten analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $9.4167.

A number of equities analysts have recently weighed in on the company. Morgan Stanley increased their target price on LegalZoom.com from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, November 13th. UBS Group decreased their price objective on LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating on the stock in a report on Friday, February 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of LegalZoom.com in a research report on Monday, December 29th. Barclays reissued an “underweight” rating and set a $6.00 target price (down from $9.00) on shares of LegalZoom.com in a report on Wednesday. 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 report on Friday, November 21st.

LegalZoom.com Stock Performance

LZ traded down $0.11 on Friday, reaching $6.67. The company had a trading volume of 1,910,131 shares, compared to its average volume of 3,511,443. The stock has a market cap of $1.15 billion, a P/E ratio of 83.39, a P/E/G ratio of 1.48 and a beta of 1.25. LegalZoom.com has a fifty-two week low of $6.14 and a fifty-two week high of $12.40. The company’s fifty day moving average is $8.31 and its 200 day moving average is $9.53.

LegalZoom.com (NASDAQ:LZ) last issued its quarterly earnings data on Thursday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.01). LegalZoom.com had a return on equity of 6.35% and a net margin of 2.04%.The company had revenue of $190.27 million for the quarter, compared to analyst estimates of $184.85 million. During the same quarter last year, the business earned $0.19 earnings per share. The company’s revenue was up 17.7% on a year-over-year basis. On average, sell-side analysts expect that LegalZoom.com will post 0.25 EPS for the current year.

LegalZoom.com announced that its Board of Directors has authorized a stock repurchase program on Thursday, February 19th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the company to buy up to 8.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at LegalZoom.com

In other LegalZoom.com news, CFO Noel Bertram Watson sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $6.96, for a total transaction of $104,400.00. Following the transaction, the chief financial officer owned 1,480,860 shares in the company, valued at $10,306,785.60. This represents a 1.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nicole Miller sold 23,325 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $6.63, for a total transaction of $154,644.75. Following the transaction, the insider directly owned 813,033 shares in the company, valued at $5,390,408.79. This represents a 2.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On LegalZoom.com

Large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC bought a new position in LegalZoom.com during the 4th quarter worth $185,000. Amundi bought a new stake in shares of LegalZoom.com during the 1st quarter valued at $196,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of LegalZoom.com by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,980 shares of the company’s stock worth $646,000 after purchasing an additional 2,161 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of LegalZoom.com by 9.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,313,429 shares of the company’s stock worth $11,309,000 after purchasing an additional 113,769 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of LegalZoom.com by 1.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 275,978 shares of the company’s stock worth $2,376,000 after purchasing an additional 4,607 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

About LegalZoom.com

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.