LegalZoom.com's (LZ) Market Perform Rating Reaffirmed at William Blair

LegalZoom.com (NASDAQ:LZ - Get Free Report)'s stock had its "market perform" rating restated by investment analysts at William Blair in a research note issued on Thursday,RTT News reports.

A number of other equities research analysts also recently weighed in on LZ. Citigroup raised their price target on LegalZoom.com from $7.00 to $8.50 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Morgan Stanley boosted their price objective on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research report on Monday, January 13th. JMP Securities reiterated a "market perform" rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. Barclays upped their price target on shares of LegalZoom.com from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, UBS Group initiated coverage on shares of LegalZoom.com in a research note on Friday, December 6th. They set a "neutral" rating and a $9.00 target price for the company. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, LegalZoom.com currently has a consensus rating of "Hold" and a consensus price target of $9.19.

LegalZoom.com Price Performance

Shares of LZ traded down $0.21 during trading hours on Thursday, hitting $9.95. The company's stock had a trading volume of 4,436,873 shares, compared to its average volume of 2,121,122. LegalZoom.com has a 52-week low of $5.33 and a 52-week high of $13.74. The business has a 50 day simple moving average of $8.53 and a two-hundred day simple moving average of $7.64. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 76.54, a PEG ratio of 1.73 and a beta of 1.13.

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Institutional Trading of LegalZoom.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of LegalZoom.com by 14.5% in the 4th quarter. Vanguard Group Inc. now owns 20,271,769 shares of the company's stock worth $152,241,000 after acquiring an additional 2,574,700 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of LegalZoom.com by 297.9% in the 4th quarter. Nuveen Asset Management LLC now owns 1,171,584 shares of the company's stock valued at $8,799,000 after buying an additional 877,125 shares in the last quarter. Norges Bank purchased a new position in LegalZoom.com during the 4th quarter worth approximately $5,769,000. Ararat Capital Management LP boosted its stake in shares of LegalZoom.com by 26.6% during the fourth quarter. Ararat Capital Management LP now owns 3,248,482 shares of the company's stock worth $24,396,000 after buying an additional 682,678 shares during the period. Finally, JPMorgan Chase & Co. raised its position in LegalZoom.com by 103.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,153,409 shares of the company's stock worth $8,662,000 after buying an additional 585,734 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.