LegalZoom.com (NASDAQ:LZ) Shares Gap Up - Here's Why

LegalZoom.com, Inc. (NASDAQ:LZ - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $7.52, but opened at $7.86. LegalZoom.com shares last traded at $7.88, with a volume of 262,884 shares changing hands.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LZ shares. William Blair assumed coverage on LegalZoom.com in a report on Monday, September 16th. They issued a "market perform" rating for the company. Citigroup boosted their target price on shares of LegalZoom.com from $7.00 to $8.50 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Morgan Stanley increased their price target on shares of LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Monday. Barclays boosted their target price on LegalZoom.com from $7.00 to $8.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upgraded LegalZoom.com from an "underweight" rating to an "overweight" rating and raised their price target for the company from $8.00 to $9.00 in a report on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $8.81.

LegalZoom.com Stock Up 4.8 %

The stock has a market cap of $1.36 billion, a P/E ratio of 60.62, a PEG ratio of 1.81 and a beta of 1.10. The stock has a fifty day simple moving average of $7.92 and a 200-day simple moving average of $7.11.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The firm had revenue of $168.60 million during the quarter, compared to analysts' expectations of $167.66 million. LegalZoom.com had a net margin of 3.61% and a return on equity of 32.88%. The business's revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.05 earnings per share. Sell-side analysts anticipate that LegalZoom.com, Inc. will post 0.25 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LZ. Rhumbline Advisers grew its position in LegalZoom.com by 10.3% in the second quarter. Rhumbline Advisers now owns 188,693 shares of the company's stock valued at $1,583,000 after purchasing an additional 17,697 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of LegalZoom.com by 168.6% in the 2nd quarter. Victory Capital Management Inc. now owns 65,795 shares of the company's stock valued at $552,000 after acquiring an additional 41,304 shares in the last quarter. Quest Partners LLC increased its position in shares of LegalZoom.com by 43.8% in the second quarter. Quest Partners LLC now owns 21,943 shares of the company's stock valued at $184,000 after acquiring an additional 6,682 shares during the last quarter. American Century Companies Inc. raised its holdings in LegalZoom.com by 24.7% during the second quarter. American Century Companies Inc. now owns 228,273 shares of the company's stock worth $1,915,000 after acquiring an additional 45,202 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in LegalZoom.com by 25.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,287,927 shares of the company's stock valued at $10,806,000 after purchasing an additional 262,335 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

LegalZoom.com Company Profile

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.