Analysts Set LegalZoom.com, Inc. (NASDAQ:LZ) Price Target at $9.42

Shares of LegalZoom.com, Inc. (NASDAQ:LZ) have been given a consensus rating of “Hold” by the ten brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $9.4167.

Several research firms have issued reports on LZ. Barclays restated an “underweight” rating and set a $6.00 price objective (down from $9.00) on shares of LegalZoom.com in a report on Wednesday, March 4th. UBS Group dropped their target price on shares of LegalZoom.com from $12.00 to $8.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Zacks Research upgraded shares of LegalZoom.com from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. JPMorgan Chase & Co. reduced their price target on shares of LegalZoom.com from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Weiss Ratings lowered shares of LegalZoom.com from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 6th.

Insider Buying and Selling at LegalZoom.com

In other news, CFO Noel Bertram Watson sold 15,000 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $6.96, for a total value of $104,400.00. Following the completion of the sale, the chief financial officer owned 1,480,860 shares of the company’s stock, valued at $10,306,785.60. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Nicole Miller sold 23,325 shares of LegalZoom.com stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $6.63, for a total value of $154,644.75. Following the transaction, the insider owned 813,033 shares in the company, valued at $5,390,408.79. This represents a 2.79% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On LegalZoom.com

A number of large investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC purchased a new stake in shares of LegalZoom.com in the third quarter worth approximately $34,000. Parkside Financial Bank & Trust acquired a new position in LegalZoom.com in the 3rd quarter valued at approximately $40,000. Clearstead Advisors LLC increased its stake in LegalZoom.com by 58.5% in the 3rd quarter. Clearstead Advisors LLC now owns 3,906 shares of the company’s stock valued at $41,000 after buying an additional 1,441 shares during the period. Osaic Holdings Inc. lifted its position in LegalZoom.com by 477.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,555 shares of the company’s stock worth $41,000 after buying an additional 3,766 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in LegalZoom.com by 976.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,564 shares of the company’s stock worth $41,000 after buying an additional 4,140 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

LegalZoom.com Stock Down 0.3%

LZ opened at $6.55 on Friday. The firm has a market cap of $1.13 billion, a PE ratio of 81.89, a P/E/G ratio of 1.42 and a beta of 1.30. The business has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $8.47. LegalZoom.com has a fifty-two week low of $5.28 and a fifty-two week high of $12.40.

LegalZoom.com (NASDAQ:LZ) last announced its earnings results on Thursday, February 19th. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.01). LegalZoom.com had a return on equity of 6.35% and a net margin of 2.04%.The company had revenue of $190.27 million for the quarter, compared to analyst estimates of $184.85 million. During the same period last year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. On average, equities research analysts anticipate that LegalZoom.com will post 0.27 EPS for the current fiscal year.

LegalZoom.com announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 19th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

About LegalZoom.com

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.