JPMorgan Chase & Co. Forecasts Strong Price Appreciation for LegalZoom.com (NASDAQ:LZ) Stock

LegalZoom.com (NASDAQ:LZ - Free Report) had its target price upped by JPMorgan Chase & Co. from $9.00 to $11.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently issued reports on the company. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a report on Friday, January 31st. Barclays lifted their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. UBS Group assumed coverage on LegalZoom.com in a report on Friday, December 6th. They issued a "neutral" rating and a $9.00 price target for the company. Citigroup lifted their price target on LegalZoom.com from $7.00 to $8.50 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, Morgan Stanley lifted their price target on LegalZoom.com from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Monday, January 13th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, LegalZoom.com currently has an average rating of "Hold" and a consensus price target of $9.06.

LegalZoom.com Stock Performance

Shares of NASDAQ LZ traded up $0.08 during midday trading on Tuesday, reaching $9.30. 2,566,342 shares of the company traded hands, compared to its average volume of 1,616,820. The firm has a market cap of $1.61 billion, a PE ratio of 71.54, a PEG ratio of 1.76 and a beta of 1.13. The stock's 50-day simple moving average is $8.22 and its 200-day simple moving average is $7.33. LegalZoom.com has a 12 month low of $5.33 and a 12 month high of $13.74.

Institutional Investors Weigh In On LegalZoom.com

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in LegalZoom.com by 13.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 80,392 shares of the company's stock valued at $674,000 after acquiring an additional 9,455 shares during the period. SG Americas Securities LLC bought a new stake in LegalZoom.com in the 3rd quarter valued at $395,000. Handelsbanken Fonder AB raised its stake in LegalZoom.com by 40.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 25,400 shares of the company's stock valued at $161,000 after acquiring an additional 7,300 shares during the period. Creative Planning acquired a new position in LegalZoom.com in the 3rd quarter valued at $72,000. Finally, nVerses Capital LLC grew its holdings in LegalZoom.com by 16.2% in the 3rd quarter. nVerses Capital LLC now owns 15,800 shares of the company's stock valued at $100,000 after buying an additional 2,200 shares in 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.