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

Shares of CS Disco, Inc. (NYSE:LAW) have received an average rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $10.31.

A number of research analysts have weighed in on LAW shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price target on shares of CS Disco in a research note on Wednesday, April 10th. Piper Sandler boosted their price objective on shares of CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of CS Disco in a research report on Monday, March 25th. They issued a “neutral” rating and a $9.00 price objective on the stock.

CS Disco Stock Performance

Shares of LAW opened at $7.72 on Wednesday. CS Disco has a twelve month low of $5.07 and a twelve month high of $10.77. The firm’s 50 day moving average price is $7.58 and its two-hundred day moving average price is $7.09. The firm has a market cap of $471.38 million, a P/E ratio of -10.87 and a beta of 2.26.

CS Disco (NYSE:LAW) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.11. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. The firm had revenue of $35.74 million for the quarter, compared to analyst estimates of $34.94 million. On average, sell-side analysts anticipate that CS Disco will post -0.78 earnings per share for the current fiscal year.

Insider Transactions at CS Disco

In other CS Disco news, CFO Michael Lafair sold 8,614 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total transaction of $58,747.48. Following the sale, the chief financial officer now directly owns 826,345 shares of the company’s stock, valued at $5,635,672.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CS Disco

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in 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% in the first quarter. Bank of New York Mellon Corp now owns 391,928 shares of the company’s stock worth $13,314,000 after acquiring an additional 348,613 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of CS Disco by 57.0% in the first quarter. MetLife Investment Management LLC now owns 7,729 shares of the company’s stock worth $263,000 after acquiring an additional 2,806 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of CS Disco by 54.6% in the first quarter. Rhumbline Advisers now owns 15,648 shares of the company’s stock worth $532,000 after acquiring an additional 5,529 shares during the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of CS Disco by 17.2% in the first quarter. BlackRock Inc. now owns 2,266,047 shares of the company’s stock worth $76,978,000 after acquiring an additional 332,076 shares during the last quarter. 58.05% of the stock is currently owned by institutional investors and hedge funds.

CS Disco Company Profile

CS Disco, Inc provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the 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.