CS Disco, Inc. (NYSE:LAW) Receives $10.31 Average Price Target from Analysts

CS Disco, Inc. (NYSE:LAW) has earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $10.31.

Several equities analysts have recently issued reports on LAW shares. JPMorgan Chase & Co. started coverage on shares of CS Disco in a research note on Monday, March 25th. They issued a “neutral” rating and a $9.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of CS Disco in a research report on Wednesday, April 10th. Finally, Piper Sandler lifted their target price on shares of CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, February 23rd.

CS Disco Stock Down 2.3 %

Shares of NYSE:LAW opened at $7.48 on Wednesday. The company has a market cap of $456.42 million, a PE ratio of -10.53 and a beta of 2.26. The company’s 50-day moving average price is $7.56 and its 200 day moving average price is $7.10. CS Disco has a fifty-two week low of $5.07 and a fifty-two week high of $10.77.

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

Insider Buying and Selling at CS Disco

In other news, CFO Michael Lafair sold 8,614 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were 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 directly owns 826,345 shares in the company, valued at $5,635,672.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On CS Disco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its position in CS Disco by 1.9% during the third quarter. BlackRock Inc. now owns 2,620,473 shares of the company’s stock worth $26,204,000 after acquiring an additional 48,558 shares during the period. Vanguard Group Inc. increased its position in CS Disco by 10.8% during the third quarter. Vanguard Group Inc. now owns 2,243,548 shares of the company’s stock worth $22,435,000 after acquiring an additional 218,080 shares during the period. Wasatch Advisors Inc. increased its position in CS Disco by 6.7% during the first quarter. Wasatch Advisors Inc. now owns 2,160,590 shares of the company’s stock worth $73,395,000 after acquiring an additional 134,967 shares during the period. Norges Bank bought a new position in CS Disco during the fourth quarter worth $13,467,000. Finally, Bank of New York Mellon Corp increased its position in CS Disco by 81.5% during the third quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company’s stock worth $7,869,000 after acquiring an additional 353,335 shares during the period. Institutional investors own 58.05% of the company’s stock.

About CS Disco

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.