CS Disco, Inc. (NYSE:LAW) Given Average Rating of “Hold” by Analysts

CS Disco, Inc. (NYSE:LAWGet Rating) has been given a consensus recommendation of “Hold” by the eleven research firms that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $30.11.

A number of research firms have issued reports on LAW. Cowen cut CS Disco from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $35.00 to $20.00 in a research report on Friday, August 12th. Cowen cut CS Disco from an “outperform” rating to a “market perform” rating in a research report on Friday, August 12th. Piper Sandler cut their price target on CS Disco from $28.00 to $25.00 and set an “overweight” rating on the stock in a research note on Friday, August 12th. Canaccord Genuity Group lowered CS Disco from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Friday, August 12th. Finally, Bank of America lowered CS Disco from a “buy” rating to a “neutral” rating and cut their price target for the company from $34.00 to $25.00 in a research note on Friday, August 12th.

CS Disco Stock Performance

Shares of NYSE LAW opened at $11.96 on Tuesday. CS Disco has a 52 week low of $11.43 and a 52 week high of $58.52. The stock’s fifty day moving average is $18.87 and its 200 day moving average is $23.99. The stock has a market capitalization of $701.97 million, a P/E ratio of -13.29 and a beta of 2.54.

CS Disco (NYSE:LAWGet Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.33) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.33). CS Disco had a negative return on equity of 18.36% and a negative net margin of 38.19%. The firm had revenue of $33.71 million for the quarter, compared to analysts’ expectations of $33.40 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. Equities research analysts forecast that CS Disco will post -1.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Michael Lafair sold 48,761 shares of CS Disco stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $29.53, for a total value of $1,439,912.33. Following the transaction, the chief financial officer now directly owns 374,726 shares of the company’s stock, valued at $11,065,658.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 51,631 shares of company stock valued at $1,501,671 over the last ninety days.

Hedge Funds Weigh In On CS Disco

Several institutional investors have recently added to or reduced their stakes in LAW. Quantbot Technologies LP acquired a new position in CS Disco in the first quarter valued at approximately $33,000. Point72 Hong Kong Ltd bought a new stake in shares of CS Disco during the first quarter valued at approximately $39,000. Ameritas Investment Partners Inc. increased its holdings in shares of CS Disco by 104.4% during the first quarter. Ameritas Investment Partners Inc. now owns 1,212 shares of the company’s stock valued at $41,000 after acquiring an additional 619 shares in the last quarter. Capricorn Investment Group LLC bought a new stake in shares of CS Disco during the second quarter valued at approximately $52,000. Finally, Amalgamated Bank bought a new stake in shares of CS Disco during the first quarter valued at approximately $59,000. 61.27% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for CS Disco (NYSE:LAW)

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