CS Disco (NYSE:LAW) Stock Price Down 2.8% – Should You Sell?

CS Disco, Inc. (NYSE:LAW) traded down 2.8% during mid-day trading on Tuesday . The company traded as low as $7.15 and last traded at $7.1950. 100,588 shares traded hands during trading, a decline of 19% from the average session volume of 124,512 shares. The stock had previously closed at $7.40.

Analysts Set New Price Targets

Several analysts have commented on LAW shares. Needham & Company LLC upped their price objective on CS Disco from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen upgraded CS Disco from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CS Disco in a report on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on shares of CS Disco from $6.00 to $8.00 and gave the company a “hold” rating in a research report on Monday, January 5th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $9.00.

CS Disco Trading Down 2.8%

The business has a 50 day moving average price of $7.50 and a 200-day moving average price of $6.11. The firm has a market capitalization of $449.62 million, a PE ratio of -7.12 and a beta of 2.09.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.05. The firm had revenue of $40.92 million for the quarter, compared to the consensus estimate of $38.52 million. CS Disco had a negative return on equity of 26.05% and a negative net margin of 40.00%. On average, equities research analysts forecast that CS Disco, Inc. will post -0.64 earnings per share for the current year.

Insider Activity

In related news, Director Thomas F. Bogan purchased 17,902 shares of the business’s stock in a transaction dated Friday, October 17th. The stock was acquired at an average price of $5.94 per share, for a total transaction of $106,337.88. Following the acquisition, the director directly owned 157,160 shares of the company’s stock, valued at $933,530.40. This trade represents a 12.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 31,832 shares of company stock valued at $189,639. Company insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new stake in CS Disco in the 1st quarter valued at about $216,000. Jane Street Group LLC lifted its holdings in shares of CS Disco by 51.6% in the first quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock valued at $183,000 after purchasing an additional 15,187 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CS Disco in the first quarter valued at approximately $195,000. Strs Ohio purchased a new position in shares of CS Disco during the 1st quarter worth approximately $216,000. Finally, Williams & Novak LLC raised its position in shares of CS Disco by 25.0% during the 2nd quarter. Williams & Novak LLC now owns 22,025 shares of the company’s stock worth $96,000 after purchasing an additional 4,405 shares during the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.

CS Disco Company Profile

CS Disco, Inc is a provider of cloud-native, artificial intelligence-driven legal applications designed to streamline e-discovery, document review and compliance processes for law firms and corporate legal departments. The Austin, Texas–based company offers a unified platform that automates labor-intensive tasks using machine learning and predictive analytics, enabling legal professionals to process, search and review large volumes of data with greater speed and accuracy.

At the core of CS Disco’s product suite is its flagship e-discovery application, which supports early case assessment, data processing, review analytics and production workflows.