Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) Target Price at $8.25

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have earned an average rating of “Hold” from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $8.25.

A number of equities research analysts have commented on the stock. UBS Group decreased their target price on shares of LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. JPMorgan Chase & Co. dropped their price target on shares of LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, June 24th. Wall Street Zen cut shares of LegalZoom.com from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Citigroup reduced their price objective on shares of LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd.

Insider Buying and Selling

In other LegalZoom.com news, insider Nicole Miller sold 19,199 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $6.58, for a total value of $126,329.42. Following the completion of the sale, the insider owned 1,119,222 shares in the company, valued at approximately $7,364,480.76. This represents a 1.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $6.45, for a total value of $96,750.00. Following the sale, the chief financial officer directly owned 2,041,847 shares in the company, valued at approximately $13,169,913.15. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 5.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC grew its stake in LegalZoom.com by 2.8% during the second quarter. EP Wealth Advisors LLC now owns 41,352 shares of the company’s stock valued at $368,000 after acquiring an additional 1,139 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in LegalZoom.com by 37.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,179 shares of the company’s stock worth $51,000 after purchasing an additional 1,403 shares in the last quarter. Prelude Capital Management LLC boosted its holdings in shares of LegalZoom.com by 11.6% during the 3rd quarter. Prelude Capital Management LLC now owns 14,185 shares of the company’s stock valued at $147,000 after purchasing an additional 1,470 shares during the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of LegalZoom.com by 12.3% during the 4th quarter. Chase Investment Counsel Corp now owns 13,601 shares of the company’s stock valued at $135,000 after purchasing an additional 1,489 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of LegalZoom.com by 2.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 59,862 shares of the company’s stock valued at $594,000 after purchasing an additional 1,705 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

LegalZoom.com Stock Down 1.0%

Shares of LZ opened at $7.21 on Friday. The business has a 50-day simple moving average of $6.21 and a two-hundred day simple moving average of $7.06. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 120.19, a PEG ratio of 1.28 and a beta of 1.31. LegalZoom.com has a 52 week low of $5.22 and a 52 week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $206.78 million for the quarter, compared to analysts’ expectations of $202.14 million. LegalZoom.com had a net margin of 1.46% and a return on equity of 11.53%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.13 earnings per share. On average, equities analysts anticipate that LegalZoom.com will post 0.32 earnings per share for the current fiscal year.

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.