Morgan Stanley Has Lowered Expectations for LegalZoom.com (NASDAQ:LZ) Stock Price

LegalZoom.com (NASDAQ:LZ) had its price target decreased by investment analysts at Morgan Stanley from $10.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 0.86% from the company’s current price.

A number of other research analysts also recently issued reports on LZ. JMP Securities reiterated a “market perform” rating on shares of LegalZoom.com in a research note on Friday, April 11th. William Blair reaffirmed a “market perform” rating on shares of LegalZoom.com in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, Barclays raised their price target on LegalZoom.com from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.06.

LegalZoom.com Price Performance

LZ stock opened at $6.94 on Wednesday. The business’s 50-day moving average is $8.81 and its two-hundred day moving average is $8.15. The firm has a market capitalization of $1.22 billion, a P/E ratio of 53.39, a P/E/G ratio of 1.73 and a beta of 1.13. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $12.55.

Hedge Funds Weigh In On LegalZoom.com

Several large investors have recently bought and sold shares of LZ. Mariner LLC grew its position in shares of LegalZoom.com by 5.6% during the fourth quarter. Mariner LLC now owns 44,638 shares of the company’s stock worth $335,000 after acquiring an additional 2,348 shares during the last quarter. State of Wyoming boosted its stake in LegalZoom.com by 42.1% during the 4th quarter. State of Wyoming now owns 8,347 shares of the company’s stock worth $63,000 after purchasing an additional 2,475 shares during the period. Summit Trail Advisors LLC grew its position in LegalZoom.com by 6.8% during the 4th quarter. Summit Trail Advisors LLC now owns 73,531 shares of the company’s stock worth $552,000 after purchasing an additional 4,697 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in LegalZoom.com by 8.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 65,240 shares of the company’s stock valued at $490,000 after purchasing an additional 5,045 shares during the period. Finally, Walleye Trading LLC raised its holdings in shares of LegalZoom.com by 33.2% in the fourth quarter. Walleye Trading LLC now owns 21,090 shares of the company’s stock valued at $158,000 after buying an additional 5,252 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

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.