Brokerages Set LegalZoom.com, Inc. (NASDAQ:LZ) Target Price at $8.25

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been assigned a consensus rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $8.25.

LZ has been the topic of several recent analyst reports. Citigroup dropped their target price on LegalZoom.com from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Friday, May 22nd. Wall Street Zen raised LegalZoom.com from a “hold” rating to a “buy” rating in a report on Tuesday, July 28th. JPMorgan Chase & Co. decreased their price target on LegalZoom.com from $11.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 24th. UBS Group dropped their price objective on LegalZoom.com from $8.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of LegalZoom.com in a research report on Thursday, July 2nd.

LegalZoom.com Stock Up 4.8%

Shares of NASDAQ:LZ opened at $8.25 on Tuesday. LegalZoom.com has a fifty-two week low of $5.22 and a fifty-two week high of $12.40. The firm’s 50-day simple moving average is $6.68 and its 200-day simple moving average is $6.77. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 137.52, a PEG ratio of 1.39 and a beta of 1.28.

LegalZoom.com (NASDAQ:LZ) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $206.78 million for the quarter, compared to analysts’ expectations of $202.14 million. LegalZoom.com had a return on equity of 11.53% and a net margin of 1.46%.The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 earnings per share. On average, research analysts forecast that LegalZoom.com will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other news, insider Nicole Miller sold 19,199 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $6.58, for a total transaction of $126,329.42. Following the transaction, the insider directly owned 1,119,222 shares of the company’s stock, valued at $7,364,480.76. This represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Jeffrey M. Stibel purchased 125,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was bought at an average price of $6.15 per share, with a total value of $768,750.00. Following the acquisition, the chief executive officer directly owned 2,955,609 shares in the company, valued at approximately $18,176,995.35. This represents a 4.42% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 7.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. lifted its position in shares of LegalZoom.com by 477.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock valued at $41,000 after acquiring an additional 3,766 shares during the period. EverSource Wealth Advisors LLC increased its stake in LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock valued at $41,000 after purchasing an additional 4,140 shares in the last quarter. Parallel Advisors LLC increased its stake in LegalZoom.com by 8,589.8% in the 3rd quarter. Parallel Advisors LLC now owns 5,127 shares of the company’s stock valued at $53,000 after purchasing an additional 5,068 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in LegalZoom.com during the fourth quarter worth $74,000. Finally, Parkside Financial Bank & Trust raised its holdings in LegalZoom.com by 91.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 7,433 shares of the company’s stock worth $74,000 after purchasing an additional 3,550 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

LegalZoom.com Company Profile

LegalZoom.com, Inc (NASDAQ: LZ) operates as a leading online legal technology company that provides a broad range of legal and business services to individuals, families and small businesses. Through its digital platform, the company offers customized legal documents and filing services, including business formation (LLCs, corporations and nonprofits), estate planning (wills and trusts), intellectual property protection (trademarks and copyrights), and ongoing compliance support. LegalZoom also connects customers with independent attorneys for consultations on matters such as family law, immigration and real estate.

Founded in 2001 by entrepreneurs Brian Lee, Brian P.