LegalZoom.com Inc. (NASDAQ:LZ) closed Thursday at $9.19 per share, up from $8.71 a day earlier. While LegalZoom.com Inc. has overperformed by 5.51%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, LZ fell by -44.44%, with highs and lows ranging from $17.36 to $7.37, whereas the simple moving average fell by -10.81% in the last 200 days.
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On September 22, 2022, MoffettNathanson started tracking LegalZoom.com Inc. (NASDAQ: LZ) recommending Underperform. A report published by JMP Securities on September 06, 2022, Downgraded its rating to ‘Mkt Perform’ for LZ. Morgan Stanley also Downgraded LZ shares as ‘Underweight’, setting a target price of $9 on the company’s shares in a report dated July 28, 2022. Citigroup April 20, 2022d the rating to Buy on April 20, 2022, and set its price target from $19 to $20. William Blair initiated its ‘Outperform’ rating for LZ, as published in its report on July 26, 2021. Morgan Stanley also rated the stock as ‘Equal-Weight’.
Analysis of LegalZoom.com Inc. (LZ)
Further, the quarter-over-quarter increase in sales is 4.40%, showing a positive trend in the upcoming months.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of LegalZoom.com Inc.’s future performance, with equity being one of the most critical indicators. The goal here is to ensure that your current return on equity of -42.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.00, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
As an indicator of volatility for any stock, average volume can also be very valuable, and LZ is recording an average volume of 1.06M. On a monthly basis, the volatility of the stock is set at 4.54%, whereas on a weekly basis, it is put at 4.94%, with a gain of 10.72% over the past seven days. Furthermore, long-term investors anticipate a median target price of $12.50, showing growth from the present price of $9.19, which can serve as yet another indication of whether LZ is worth investing in or should be passed over.
How Do You Analyze LegalZoom.com Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 65.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in LZ shares?
The recent increase in stakes in LZ appears to be a result of several institutional investors and hedge funds increasing their positions. The Vanguard Group, Inc. made another increased to its shares in LZ during the first quarter, upping its stake by 12.60%. During the last quarter, the company picked up 1,050,660 additional shares for a total stake of worth $72.69 million, bringing number of shares owned by the company to 9,390,916.
During the first quarter, Wasatch Advisors, Inc. added a 1,080,092 position in LZ. Hawk Ridge Capital Management LP purchased an additional 1.98 million shares in the last quarter, increasing its holdings by 45.41%, now holding 6.36 million shares worth $49.2 million. At the end of the first quarter, Franklin Advisers, Inc. decreased its LZ holdings by -7.29% and now holds 5.44 million LZ shares valued at $42.14 million with the lessened -0.43 million shares during the period. LZ shares are owned by institutional investors to the tune of 65.40% at present.
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