Cowen Cuts CS Disco (NYSE:LAW) Price Target to $35.00

CS Disco (NYSE:LAWGet Rating) had its target price decreased by Cowen from $45.00 to $35.00 in a research note released on Friday morning, The Fly reports.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group cut their price objective on shares of CS Disco from $45.00 to $35.00 in a research report on Friday. Piper Sandler cut their price objective on shares of CS Disco from $48.00 to $44.00 and set an overweight rating for the company in a research report on Friday, February 25th. Needham & Company LLC cut their price objective on shares of CS Disco from $70.00 to $50.00 and set a buy rating for the company in a research report on Friday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of CS Disco from $67.00 to $55.00 and set an overweight rating for the company in a research report on Friday, February 25th. Finally, Canaccord Genuity Group dropped their price target on shares of CS Disco from $64.00 to $45.00 and set a buy rating for the company in a research report on Friday, February 25th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, CS Disco presently has an average rating of Buy and a consensus target price of $47.79.

Shares of NYSE:LAW traded up $3.86 during midday trading on Friday, hitting $26.18. The company’s stock had a trading volume of 751,646 shares, compared to its average volume of 266,171. CS Disco has a 12-month low of $19.57 and a 12-month high of $69.41. The company has a market cap of $1.53 billion and a P/E ratio of -33.56. The business’s 50 day simple moving average is $30.98 and its 200 day simple moving average is $35.62.

CS Disco (NYSE:LAWGet Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.06. The firm had revenue of $34.50 million for the quarter, compared to analyst estimates of $30.68 million. During the same quarter in the previous year, the business posted ($0.22) earnings per share. CS Disco’s revenue for the quarter was up 63.3% on a year-over-year basis. Sell-side analysts forecast that CS Disco will post -1.01 EPS for the current year.

In related news, CFO Michael Lafair sold 14,000 shares of CS Disco stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $34.16, for a total value of $478,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 completion of the transaction, the executive now owns 126,574 shares of the company’s stock, valued at approximately $4,042,773.56. The disclosure for this sale can be found here. In the last three months, insiders sold 43,000 shares of company stock valued at $1,458,680.

Large investors have recently modified their holdings of the company. Tudor Investment Corp Et Al purchased a new stake in shares of CS Disco during the 3rd quarter worth approximately $11,970,000. New York State Common Retirement Fund purchased a new stake in shares of CS Disco during the 3rd quarter worth approximately $331,000. Gladius Capital Management LP purchased a new stake in shares of CS Disco during the 4th quarter worth approximately $92,000. Bullseye Asset Management LLC purchased a new stake in shares of CS Disco during the 3rd quarter worth approximately $1,726,000. Finally, Geode Capital Management LLC purchased a new stake in shares of CS Disco during the 3rd quarter worth approximately $9,404,000. Institutional investors and hedge funds own 79.42% of the company’s stock.

About CS Disco (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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