LegalZoom.com (NASDAQ:LZ) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

LegalZoom.com (NASDAQ:LZ) had its target price boosted by JPMorgan Chase & Co. from $9.00 to $11.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.31% from the stock’s current price.

Several other research analysts also recently issued reports on LZ. Morgan Stanley lifted their price target on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Monday, January 13th. UBS Group began coverage on shares of LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target on the stock. Barclays increased their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. JMP Securities reaffirmed a “market perform” rating on shares of LegalZoom.com in a research note on Friday, January 31st. Finally, Citigroup increased their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $9.06.

LegalZoom.com Price Performance

NASDAQ LZ opened at $9.22 on Tuesday. The business has a 50 day moving average price of $8.22 and a 200 day moving average price of $7.33. The company has a market capitalization of $1.59 billion, a P/E ratio of 70.93, a PEG ratio of 1.76 and a beta of 1.13. LegalZoom.com has a 1-year low of $5.33 and a 1-year high of $13.74.

Institutional Trading of LegalZoom.com

Hedge funds have recently added to or reduced their stakes in the business. nVerses Capital LLC lifted its holdings in shares of LegalZoom.com by 16.2% during the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company’s stock worth $100,000 after acquiring an additional 2,200 shares during the period. Quarry LP raised its stake in LegalZoom.com by 83.4% during the third quarter. Quarry LP now owns 8,206 shares of the company’s stock worth $52,000 after purchasing an additional 3,732 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of LegalZoom.com by 179.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock valued at $39,000 after purchasing an additional 3,919 shares during the last quarter. Summit Trail Advisors LLC grew its stake in shares of LegalZoom.com by 6.8% during the 4th quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company’s stock valued at $552,000 after buying an additional 4,697 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of LegalZoom.com by 40.3% during the 3rd quarter. Handelsbanken Fonder AB now owns 25,400 shares of the company’s stock worth $161,000 after buying an additional 7,300 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Company Profile

LegalZoom.com, Inc, together with its subsidiaries, operates an online platform that supports the legal, compliance, and business management needs of small businesses and consumers in the United States. The company’s platform offers business formation products, such as limited liability company, incorporation of C and S corporations, nonprofit formations, doing-business-as, corporate changes and filings, business licenses, legal forms, and beneficial ownership information reports; intellectual property products consisting of trademark and patent applications, and copyright registrations; and tax services, including business and personal tax preparations.