LegalZoom.com (NASDAQ:LZ) Price Target Raised to $12.00

LegalZoom.com (NASDAQ:LZ) had its price objective raised by equities researchers at Barclays from $10.00 to $12.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price target points to a potential upside of 10.40% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. William Blair upgraded LegalZoom.com from a “market perform” rating to an “outperform” rating in a research report on Thursday. Wall Street Zen downgraded shares of LegalZoom.com from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reissued a “hold (c-)” rating on shares of LegalZoom.com in a research note on Wednesday, October 8th. Bank of America upgraded shares of LegalZoom.com from an “underperform” rating to a “buy” rating and upped their target price for the stock from $8.00 to $12.00 in a research report on Friday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on LegalZoom.com from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, September 8th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.17.

LegalZoom.com Stock Performance

NASDAQ LZ traded up $0.69 during trading hours on Thursday, hitting $10.87. The company had a trading volume of 1,440,540 shares, compared to its average volume of 2,106,312. LegalZoom.com has a 52 week low of $6.47 and a 52 week high of $12.40. The firm has a 50 day simple moving average of $10.40 and a 200 day simple moving average of $9.51. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 67.94, a PEG ratio of 3.04 and a beta of 1.23.

LegalZoom.com (NASDAQ:LZ) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.03). The firm had revenue of $190.16 million during the quarter, compared to analysts’ expectations of $183.27 million. LegalZoom.com had a return on equity of 20.36% and a net margin of 4.07%.The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 earnings per share. LegalZoom.com has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, research analysts forecast that LegalZoom.com will post 0.25 earnings per share for the current year.

Insider Activity

In other LegalZoom.com news, insider Nicole Miller sold 25,154 shares of the stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $10.82, for a total transaction of $272,166.28. Following the completion of the sale, the insider owned 960,032 shares of the company’s stock, valued at $10,387,546.24. This represents a 2.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Noel Bertram Watson sold 27,319 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $11.07, for a total transaction of $302,421.33. Following the completion of the sale, the chief financial officer directly owned 1,676,426 shares in the company, valued at approximately $18,558,035.82. This trade represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 109,859 shares of company stock valued at $1,193,100. 5.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On LegalZoom.com

Several hedge funds and other institutional investors have recently modified their holdings of the company. Horizon Investment Services LLC purchased a new position in LegalZoom.com during the 3rd quarter valued at about $220,000. Arizona State Retirement System grew its position in shares of LegalZoom.com by 13.0% in the 3rd quarter. Arizona State Retirement System now owns 34,849 shares of the company’s stock worth $362,000 after buying an additional 4,015 shares during the last quarter. New York State Common Retirement Fund grew its position in shares of LegalZoom.com by 43.8% in the 3rd quarter. New York State Common Retirement Fund now owns 37,728 shares of the company’s stock worth $392,000 after buying an additional 11,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of LegalZoom.com during the third quarter valued at approximately $305,000. Finally, Federated Hermes Inc. raised its holdings in shares of LegalZoom.com by 10.7% during the third quarter. Federated Hermes Inc. now owns 35,652 shares of the company’s stock valued at $370,000 after acquiring an additional 3,460 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

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.