Zacks: Brokerages Expect CS Disco, Inc. (NYSE:LAW) Will Announce Quarterly Sales of $30.77 Million

Brokerages predict that CS Disco, Inc. (NYSE:LAWGet Rating) will post $30.77 million in sales for the current quarter, according to Zacks. Five analysts have made estimates for CS Disco’s earnings, with the highest sales estimate coming in at $31.20 million and the lowest estimate coming in at $30.43 million. The business is expected to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that CS Disco will report full-year sales of $149.46 million for the current year, with estimates ranging from $148.50 million to $150.90 million. For the next fiscal year, analysts expect that the business will post sales of $196.56 million, with estimates ranging from $191.60 million to $202.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow CS Disco.

CS Disco (NYSE:LAWGet Rating) last announced its earnings results on Thursday, February 24th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $33.81 million for the quarter, compared to analyst estimates of $28.59 million. The business’s revenue was up 76.2% compared to the same quarter last year.

A number of equities analysts recently commented on the company. Needham & Company LLC decreased their price target on CS Disco from $70.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, February 25th. Zacks Investment Research upgraded CS Disco from a “sell” rating to a “hold” rating in a research note on Friday, April 1st. Piper Sandler decreased their price target on CS Disco from $48.00 to $44.00 and set an “overweight” rating for the company in a research note on Friday, February 25th. JPMorgan Chase & Co. decreased their price target on CS Disco from $67.00 to $55.00 and set an “overweight” rating for the company in a research note on Friday, February 25th. Finally, Stifel Nicolaus decreased their price target on CS Disco from $60.00 to $50.00 and set a “buy” rating for the company in a research note on Monday, March 21st. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $51.46.

In other news, CRO Andrew Shimek sold 15,000 shares of CS Disco stock in a transaction that occurred on Friday, April 8th. The stock was sold at an average price of $31.94, for a total transaction of $479,100.00. Following the sale, the executive now owns 126,574 shares of the company’s stock, valued at $4,042,773.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Michael Lafair sold 14,000 shares of CS Disco stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $35.81, for a total value of $501,340.00. Following the sale, the chief financial officer now directly owns 396,317 shares in the company, valued at approximately $14,192,111.77. The disclosure for this sale can be found here. Insiders sold 43,000 shares of company stock worth $1,458,680 in the last three months.

Several institutional investors and hedge funds have recently added to or reduced their stakes in LAW. Deer Management Co. LLC bought a new stake in CS Disco during the fourth quarter worth approximately $355,905,000. Stephens Group LLC bought a new stake in CS Disco during the fourth quarter worth approximately $323,194,000. Dragoneer Investment Group LLC raised its holdings in CS Disco by 277.1% during the fourth quarter. Dragoneer Investment Group LLC now owns 3,426,535 shares of the company’s stock worth $122,499,000 after purchasing an additional 2,517,885 shares in the last quarter. Norges Bank bought a new stake in CS Disco during the fourth quarter worth approximately $82,850,000. Finally, Wasatch Advisors Inc. bought a new stake in CS Disco during the third quarter worth approximately $99,823,000. 79.42% of the stock is currently owned by institutional investors.

NYSE:LAW opened at $27.36 on Friday. CS Disco has a one year low of $25.99 and a one year high of $69.41. The stock has a 50-day simple moving average of $32.06 and a 200 day simple moving average of $36.42.

CS Disco Company Profile (Get Rating)

CS Disco, Inc, a legal technology company, provides cloud-native and artificial intelligence-powered legal solutions for ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments. The company offers DISCO Ediscovery, a solution that automates 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.

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