LegalZoom.com (NASDAQ:LZ) Upgraded by JPMorgan Chase & Co. to "Overweight" Rating

LegalZoom.com (NASDAQ:LZ - Get Free Report) was upgraded by research analysts at JPMorgan Chase & Co. from an "underweight" rating to an "overweight" rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage presently has a $9.00 price target on the stock, up from their prior price target of $8.00. JPMorgan Chase & Co.'s price target would indicate a potential upside of 14.21% from the company's previous close.

LZ has been the topic of several other research reports. Barclays upped 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 shares of LegalZoom.com in a research note on Friday, December 6th. They set a "neutral" rating and a $9.00 target price on the stock. Citigroup upped their target price on LegalZoom.com from $7.00 to $8.50 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, William Blair began coverage on LegalZoom.com in a research note on Monday, September 16th. They set a "market perform" rating for the company. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, LegalZoom.com presently has an average rating of "Hold" and an average price target of $8.81.

LegalZoom.com Price Performance

Shares of NASDAQ LZ traded up $0.36 during midday trading on Monday, hitting $7.88. 1,486,475 shares of the company's stock were exchanged, compared to its average volume of 1,047,411. LegalZoom.com has a twelve month low of $5.33 and a twelve month high of $13.74. The firm 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's 50 day moving average price is $7.94 and its 200-day moving average price is $7.11.

LegalZoom.com (NASDAQ:LZ - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. The firm had revenue of $168.60 million for 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%. LegalZoom.com's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.05 EPS. On average, analysts expect that LegalZoom.com will post 0.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Coastal Bridge Advisors LLC lifted its holdings in shares of LegalZoom.com by 10.2% in the second quarter. Coastal Bridge Advisors LLC now owns 1,996,558 shares of the company's stock valued at $16,751,000 after purchasing an additional 184,696 shares in the last quarter. Barclays PLC boosted its stake in shares of LegalZoom.com by 308.5% during the 3rd quarter. Barclays PLC now owns 224,782 shares of the company's stock worth $1,427,000 after acquiring an additional 169,761 shares during the period. Mainstream Capital Management LLC acquired a new stake in LegalZoom.com during the 3rd quarter valued at $1,429,000. Renaissance Technologies LLC boosted its position in LegalZoom.com by 26.8% during the second quarter. Renaissance Technologies LLC now owns 2,466,933 shares of the company's stock worth $20,698,000 after purchasing an additional 521,200 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of LegalZoom.com by 97.2% in the third quarter. Victory Capital Management Inc. now owns 129,775 shares of the company's stock valued at $824,000 after purchasing an additional 63,980 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.