CS Disco (NYSE:LAW) Rating Lowered to Neutral at Citigroup

CS Disco (NYSE:LAWGet Rating) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Thursday, Marketbeat.com reports. They currently have a $8.00 price target on the stock, down from their previous price target of $16.00. Citigroup’s target price suggests a potential upside of 28.62% from the stock’s current price.

LAW has been the subject of several other research reports. Jefferies Financial Group lowered their price objective on shares of CS Disco from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Monday, October 31st. Canaccord Genuity Group raised shares of CS Disco from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, January 4th. Moffett Nathanson initiated coverage on CS Disco in a research note on Thursday, September 22nd. They set an “outperform” rating and a $20.00 target price for the company. Bank of America cut CS Disco from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $12.00 to $5.00 in a research note on Wednesday, January 4th. Finally, Cowen reduced their target price on CS Disco to $12.00 in a research note on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.15.

CS Disco Stock Performance

LAW opened at $6.22 on Thursday. The firm has a 50 day moving average price of $7.30 and a 200 day moving average price of $13.05. The company has a market cap of $367.22 million, a PE ratio of -5.94 and a beta of 2.04. CS Disco has a 1 year low of $5.56 and a 1 year high of $40.73.

CS Disco (NYSE:LAWGet Rating) last issued its quarterly earnings data on Thursday, November 10th. The company reported ($0.33) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.04. CS Disco had a negative net margin of 44.84% and a negative return on equity of 23.58%. The company had revenue of $34.48 million during the quarter, compared to the consensus estimate of $33.04 million. On average, sell-side analysts predict that CS Disco will post -1.26 earnings per share for the current year.

Hedge Funds Weigh In On CS Disco

Large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new position in CS Disco during the first quarter worth $33,000. Point72 Hong Kong Ltd bought a new stake in CS Disco in the first quarter valued at $39,000. Ameritas Investment Partners Inc. lifted its stake in CS Disco by 104.4% in the first quarter. Ameritas Investment Partners Inc. now owns 1,212 shares of the company’s stock valued at $41,000 after buying an additional 619 shares during the last quarter. Capricorn Investment Group LLC bought a new stake in CS Disco in the second quarter valued at $52,000. Finally, Amalgamated Bank bought a new stake in CS Disco in the first quarter valued at $59,000. 58.18% of the stock is currently owned by institutional investors.

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.

Further Reading

Analyst Recommendations for CS Disco (NYSE:LAW)

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