CS Disco (NYSE:LAW) Stock Rating Reaffirmed by Needham & Company LLC

CS Disco (NYSE:LAW)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $15.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 87.27% from the stock’s previous close.

Other research analysts have also recently issued reports about the stock. Piper Sandler increased their target price on shares of CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Friday, February 23rd. JPMorgan Chase & Co. assumed coverage on shares of CS Disco in a research note on Monday, March 25th. They set a “neutral” rating and a $9.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $10.31.

CS Disco Price Performance

Shares of LAW opened at $8.01 on Wednesday. The firm has a market capitalization of $489.09 million, a price-to-earnings ratio of -11.28 and a beta of 2.26. The company has a 50-day moving average of $7.61 and a 200 day moving average of $7.06. CS Disco has a 1-year low of $5.07 and a 1-year high of $10.77.

CS Disco (NYSE:LAW) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.11. The firm had revenue of $35.74 million during the quarter, compared to analyst estimates of $34.94 million. CS Disco had a negative return on equity of 19.09% and a negative net margin of 30.52%. On average, equities analysts anticipate that CS Disco will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at CS Disco

In other news, CFO Michael Lafair sold 8,614 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $6.82, for a total value of $58,747.48. Following the completion of the sale, the chief financial officer now owns 826,345 shares of the company’s stock, valued at approximately $5,635,672.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On CS Disco

Hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC purchased a new stake in CS Disco during the 4th quarter worth approximately $27,000. Ensign Peak Advisors Inc acquired a new stake in shares of CS Disco during the third quarter worth $32,000. Quantbot Technologies LP acquired a new stake in shares of CS Disco during the first quarter worth $33,000. State of Wyoming acquired a new position in shares of CS Disco in the 2nd quarter valued at $35,000. Finally, Barclays PLC increased its position in shares of CS Disco by 67.6% in the 4th quarter. Barclays PLC now owns 6,054 shares of the company’s stock valued at $38,000 after acquiring an additional 2,442 shares during the period. Institutional investors and hedge funds own 58.05% of the company’s stock.

CS Disco Company Profile

CS Disco, Inc provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the ediscovery process and saves legal departments from manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, producing, and using enterprise data that is at issue in legal matters.