Barclays Issues Positive Forecast for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its price objective lifted by equities research analysts at Barclays from $8.00 to $9.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 5.86% from the company’s previous close.

A number of other analysts have also recently commented on the company. Citigroup lifted their price objective on LegalZoom.com from $7.00 to $8.50 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Morgan Stanley lifted their price objective on LegalZoom.com from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. lifted their price target on LegalZoom.com from $9.00 to $11.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. JMP Securities restated a “market perform” rating on shares of LegalZoom.com in a report on Tuesday, February 11th. Finally, UBS Group assumed coverage on LegalZoom.com in a report on Friday, December 6th. They issued a “neutral” rating and a $9.00 price target for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.19.

LegalZoom.com Stock Up 6.2 %

LZ stock opened at $9.56 on Thursday. The firm has a market capitalization of $1.65 billion, a PE ratio of 73.54, a PEG ratio of 1.73 and a beta of 1.13. The stock has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $7.56. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $13.74.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently modified their holdings of LZ. Creative Planning acquired a new position in shares of LegalZoom.com in the 3rd quarter valued at about $72,000. Nisa Investment Advisors LLC lifted its position in LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company’s stock worth $39,000 after acquiring an additional 3,919 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in LegalZoom.com by 72.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 22,278 shares of the company’s stock worth $141,000 after acquiring an additional 9,330 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in LegalZoom.com during the 3rd quarter worth approximately $1,429,000. Finally, Victory Capital Management Inc. lifted its position in LegalZoom.com by 97.2% during the 3rd quarter. Victory Capital Management Inc. now owns 129,775 shares of the company’s stock worth $824,000 after acquiring an additional 63,980 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

About LegalZoom.com

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.