LegalZoom.com, Inc. (NASDAQ:LZ) Receives Consensus Recommendation of “Moderate Buy” from Analysts

by · The Cerbat Gem

Shares of LegalZoom.com, Inc. (NASDAQ:LZ – Get Free Report) have been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $14.93.

LZ has been the subject of a number of analyst reports. Barclays boosted their price objective on LegalZoom.com from $12.00 to $17.00 and gave the company an “overweight” rating in a research report on Wednesday, August 9th. Citigroup lifted their target price on LegalZoom.com from $15.00 to $17.00 in a research note on Wednesday, August 9th. JMP Securities reaffirmed a “market outperform” rating and set a $15.00 target price on shares of LegalZoom.com in a research note on Monday, August 14th. Credit Suisse Group lifted their target price on LegalZoom.com from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Finally, TheStreet downgraded LegalZoom.com from a “c-” rating to a “d+” rating in a research note on Thursday, September 7th.

Read Our Latest Research Report on LZ

Insider Transactions at LegalZoom.com

In other news, Director Dipan Patel sold 20,818,755 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $9.55, for a total value of $198,819,110.25. Following the sale, the director now owns 17,194,233 shares of the company’s stock, valued at approximately $164,204,925.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Noel Bertram Watson sold 25,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $11.17, for a total transaction of $279,250.00. Following the sale, the chief financial officer now directly owns 660,695 shares of the company’s stock, valued at $7,379,963.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dipan Patel sold 20,818,755 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $9.55, for a total value of $198,819,110.25. Following the sale, the director now directly owns 17,194,233 shares in the company, valued at $164,204,925.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,037,988 shares of company stock valued at $382,782,276. Corporate insiders own 44.60% of the company’s stock.

Institutional Investors Weigh In On LegalZoom.com

Institutional investors and hedge funds have recently modified their holdings of the stock. Quarry LP purchased a new position in shares of LegalZoom.com during the second quarter valued at $28,000. DekaBank Deutsche Girozentrale purchased a new position in shares of LegalZoom.com during the third quarter valued at $31,000. Lazard Asset Management LLC grew its holdings in shares of LegalZoom.com by 117.8% during the third quarter. Lazard Asset Management LLC now owns 2,858 shares of the company’s stock valued at $31,000 after buying an additional 1,546 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of LegalZoom.com during the second quarter valued at $42,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of LegalZoom.com by 116.4% during the third quarter. Parkside Financial Bank & Trust now owns 3,722 shares of the company’s stock valued at $41,000 after buying an additional 2,002 shares in the last quarter. 68.04% of the stock is owned by institutional investors and hedge funds.

LegalZoom.com Trading Up 0.3 %

Shares of LZ opened at $11.56 on Friday. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 231.25, a PEG ratio of 1.38 and a beta of 1.14. The stock has a 50 day moving average of $10.75 and a 200-day moving average of $11.68. LegalZoom.com has a 52 week low of $6.89 and a 52 week high of $15.68.

LegalZoom.com (NASDAQ:LZ – Get Free Report) last released its quarterly earnings data on Tuesday, November 7th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. LegalZoom.com had a return on equity of 12.20% and a net margin of 1.28%. The business had revenue of $167.27 million during the quarter, compared to analyst estimates of $160.09 million. On average, sell-side analysts predict that LegalZoom.com will post 0.15 earnings per share for the current fiscal year.

About LegalZoom.com

(Get Free Report

LegalZoom.com, Inc operates an online platform for legal and compliance solutions in the United States. The company's platform offers products and services, including business formations, creating estate planning documents, protecting intellectual property, completing certain forms and agreements, providing access to independent attorney advice, and connecting customers with experts for tax preparation and bookkeeping services.

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