LegalZoom.com (NASDAQ:LZ) Given New $7.00 Price Target at Morgan Stanley

LegalZoom.com (NASDAQ:LZ - Get Free Report) had its price objective dropped by analysts at Morgan Stanley from $10.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Morgan Stanley's target price would suggest a potential upside of 0.86% from the stock's previous close.

Several other equities analysts also recently commented on LZ. JMP Securities reaffirmed a "market perform" rating on shares of LegalZoom.com in a research report on Friday, April 11th. William Blair reaffirmed a "market perform" rating on shares of LegalZoom.com in a research note on Thursday, February 27th. Barclays boosted their price objective on shares of LegalZoom.com from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. raised their target price on shares of LegalZoom.com from $9.00 to $11.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.06.

LegalZoom.com Price Performance

Shares of NASDAQ:LZ traded down $0.13 during trading hours on Wednesday, hitting $6.94. 2,560,143 shares of the company's stock traded hands, compared to its average volume of 1,817,750. The firm has a market capitalization of $1.22 billion, a P/E ratio of 53.39, a price-to-earnings-growth ratio of 1.73 and a beta of 1.13. The business has a fifty day moving average price of $8.76 and a 200-day moving average price of $8.17. LegalZoom.com has a 1 year low of $5.33 and a 1 year high of $12.55.

Hedge Funds Weigh In On LegalZoom.com

Large investors have recently made changes to their positions in the business. State of Wyoming raised its holdings in shares of LegalZoom.com by 42.1% in the fourth quarter. State of Wyoming now owns 8,347 shares of the company's stock worth $63,000 after buying an additional 2,475 shares during the last quarter. Aigen Investment Management LP purchased a new stake in LegalZoom.com during the 4th quarter valued at about $76,000. Olympiad Research LP acquired a new position in shares of LegalZoom.com in the fourth quarter valued at about $78,000. Quantessence Capital LLC acquired a new stake in shares of LegalZoom.com during the fourth quarter worth about $78,000. Finally, Sei Investments Co. purchased a new stake in LegalZoom.com in the fourth quarter valued at approximately $83,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.