CS Disco, Inc. (NYSE:LAW) Receives Consensus Rating of “Hold” from Brokerages

CS Disco, Inc. (NYSE:LAW) has been given an average rating of “Hold” by the nine research firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $10.00.

Several equities analysts have weighed in on LAW shares. Piper Sandler dropped their target price on CS Disco from $9.00 to $6.50 and set a “neutral” rating for the company in a research report on Friday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of CS Disco in a research report on Tuesday, September 12th. Citigroup upped their price target on CS Disco from $7.00 to $10.00 and gave the stock a “neutral” rating in a report on Friday, August 11th. Moffett Nathanson lowered shares of CS Disco from an “outperform” rating to a “market perform” rating and set a $9.00 target price on the stock. in a research note on Thursday, September 14th. Finally, Canaccord Genuity Group upped their target price on shares of CS Disco from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th.

Insider Buying and Selling at CS Disco

In other CS Disco news, Director James Offerdahl bought 7,000 shares of the stock in a transaction dated Thursday, September 14th. The shares were acquired at an average cost of $6.95 per share, for a total transaction of $48,650.00. Following the completion of the transaction, the director now owns 155,025 shares in the company, valued at approximately $1,077,423.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 22.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CS Disco

A number of hedge funds have recently modified their holdings of LAW. JPMorgan Chase & Co. lifted its holdings in shares of CS Disco by 251.2% during the first quarter. JPMorgan Chase & Co. now owns 30,483 shares of the company’s stock worth $1,035,000 after purchasing an additional 21,804 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $13,314,000 after purchasing an additional 348,613 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of CS Disco by 57.0% during the first quarter. MetLife Investment Management LLC now owns 7,729 shares of the company’s stock worth $263,000 after purchasing an additional 2,806 shares during the period. Rhumbline Advisers lifted its holdings in shares of CS Disco by 54.6% during the first quarter. Rhumbline Advisers now owns 15,648 shares of the company’s stock worth $532,000 after purchasing an additional 5,529 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of CS Disco by 17.2% during the first quarter. BlackRock Inc. now owns 2,266,047 shares of the company’s stock worth $76,978,000 after purchasing an additional 332,076 shares during the period. 53.82% of the stock is currently owned by hedge funds and other institutional investors.

CS Disco Price Performance

NYSE:LAW opened at $5.67 on Friday. The company’s 50-day moving average is $6.24 and its two-hundred day moving average is $7.61. The firm has a market capitalization of $343.77 million, a price-to-earnings ratio of -6.10 and a beta of 2.34. CS Disco has a 1-year low of $5.07 and a 1-year high of $10.77.

CS Disco (NYSE:LAW) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.10. CS Disco had a negative net margin of 40.77% and a negative return on equity of 24.69%. The firm had revenue of $34.94 million during the quarter, compared to analysts’ expectations of $34.21 million. During the same quarter last year, the company posted ($0.33) EPS. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. As a group, equities analysts anticipate that CS Disco will post -0.99 earnings per share for the current fiscal year.

CS Disco Company Profile

CS Disco, Inc 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.