CS Disco (NYSE:LAW) Sets New 52-Week Low at $11.87

CS Disco, Inc. (NYSE:LAWGet Rating) shares reached a new 52-week low on Monday . The company traded as low as $11.87 and last traded at $11.93, with a volume of 852 shares. The stock had previously closed at $12.13.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LAW shares. Jefferies Financial Group lowered CS Disco from a “buy” rating to a “hold” rating and decreased their price target for the company from $35.00 to $25.00 in a research note on Friday, August 12th. Bank of America lowered CS Disco from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $25.00 in a report on Friday, August 12th. Piper Sandler cut their price target on shares of CS Disco from $28.00 to $25.00 and set an “overweight” rating for the company in a report on Friday, August 12th. Cowen cut shares of CS Disco from an “outperform” rating to a “market perform” rating in a research note on Friday, August 12th. Finally, Cowen downgraded shares of CS Disco from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $35.00 to $20.00 in a report on Friday, August 12th. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $31.00.

CS Disco Stock Down 3.9 %

The firm’s 50-day moving average price is $18.66 and its two-hundred day moving average price is $23.90. The firm has a market capitalization of $674.38 million, a PE ratio of -12.77 and a beta of 2.54.

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

Insider Activity

In related news, CFO Michael Lafair sold 1,640 shares of the stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $24.15, for a total value of $39,606.00. Following the completion of the sale, the chief financial officer now directly owns 391,403 shares of the company’s stock, valued at approximately $9,452,382.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 51,631 shares of company stock worth $1,501,671.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Deer Management Co. LLC purchased a new stake in CS Disco in the 4th quarter worth approximately $355,905,000. Dragoneer Investment Group LLC raised its holdings in shares of 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 acquiring an additional 2,517,885 shares in the last quarter. Bank of New York Mellon Corp boosted its position in CS Disco by 804.8% during the first quarter. Bank of New York Mellon Corp now owns 391,928 shares of the company’s stock valued at $13,314,000 after purchasing an additional 348,613 shares during the last quarter. BlackRock Inc. grew its stake in CS Disco by 17.2% in the first quarter. BlackRock Inc. now owns 2,266,047 shares of the company’s stock valued at $76,978,000 after purchasing an additional 332,076 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in CS Disco by 25.4% in the 2nd quarter. Franklin Resources Inc. now owns 1,463,441 shares of the company’s stock worth $26,400,000 after purchasing an additional 296,722 shares during the last quarter. 61.27% of the stock is owned by hedge funds and other institutional investors.

About CS Disco

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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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