LegalZoom.com (NASDAQ:LZ) Shares Gap Up Following Analyst Upgrade

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report)'s share price gapped up before the market opened on Thursday after Barclays raised their price target on the stock from $8.00 to $9.00. The stock had previously closed at $8.85, but opened at $9.66. Barclays currently has an equal weight rating on the stock. LegalZoom.com shares last traded at $10.28, with a volume of 628,157 shares traded.

A number of other analysts also recently issued reports on LZ. JPMorgan Chase & Co. raised their price objective on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Morgan Stanley raised their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the stock an "underweight" rating in a research note on Monday, January 13th. UBS Group initiated coverage on LegalZoom.com in a research note on Friday, December 6th. They issued a "neutral" rating and a $9.00 price objective on the stock. Citigroup increased their price objective on LegalZoom.com from $7.00 to $8.50 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, JMP Securities restated a "market perform" rating on shares of LegalZoom.com in a research note on Tuesday, February 11th. Two equities research 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 data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $9.19.

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Institutional Investors Weigh In On LegalZoom.com

Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC raised its stake in shares of LegalZoom.com by 179.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,099 shares of the company's stock valued at $39,000 after purchasing an additional 3,919 shares during the period. Quarry LP grew its holdings in LegalZoom.com by 83.4% during the 3rd quarter. Quarry LP now owns 8,206 shares of the company's stock valued at $52,000 after buying an additional 3,732 shares in the last quarter. State of Wyoming increased its position in shares of LegalZoom.com by 42.1% during the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock valued at $63,000 after buying an additional 2,475 shares during the period. Wexford Capital LP bought a new stake in shares of LegalZoom.com during the third quarter valued at about $64,000. Finally, Creative Planning purchased a new stake in shares of LegalZoom.com in the third quarter worth about $72,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

LegalZoom.com Stock Down 2.1 %

The business's 50-day moving average price is $8.53 and its 200 day moving average price is $7.64. The company has a market capitalization of $1.75 billion, a P/E ratio of 76.54, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13.

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.