Needham & Company LLC Reaffirms "Buy" Rating for CS Disco (NYSE:LAW)

Needham & Company LLC reissued their buy rating on shares of CS Disco (NYSE:LAW - Free Report) in a report published on Thursday,Benzinga reports. Needham & Company LLC currently has a $8.00 price target on the stock.

CS Disco Stock Up 1.2%

Shares of CS Disco stock traded up $0.05 on Thursday, reaching $4.06. The company's stock had a trading volume of 65,955 shares, compared to its average volume of 150,100. The company has a market capitalization of $246.88 million, a P/E ratio of -4.41 and a beta of 2.05. CS Disco has a 52-week low of $3.31 and a 52-week high of $7.09. The stock has a 50-day moving average price of $3.94 and a 200-day moving average price of $4.89.

CS Disco (NYSE:LAW - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.05). The business had revenue of $37.00 million during the quarter, compared to analysts' expectations of $36.03 million. CS Disco had a negative net margin of 38.51% and a negative return on equity of 22.30%. Sell-side analysts forecast that CS Disco will post -0.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Lafair sold 13,146 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total value of $68,227.74. Following the transaction, the chief financial officer now owns 865,793 shares of the company's stock, valued at $4,493,465.67. This represents a 1.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 22,995 shares of company stock valued at $118,818. Insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On CS Disco

Several large investors have recently modified their holdings of the business. Pilgrim Partners Asia Pte Ltd purchased a new position in CS Disco during the 4th quarter worth approximately $43,000. R Squared Ltd purchased a new position in CS Disco during the 4th quarter worth approximately $47,000. Meeder Asset Management Inc. grew its stake in shares of CS Disco by 50.7% in the 4th quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company's stock valued at $54,000 after purchasing an additional 3,650 shares during the last quarter. Virtu Financial LLC acquired a new position in CS Disco in the 4th quarter valued at $54,000. Finally, Two Sigma Investments LP acquired a new position in CS Disco during the fourth quarter worth $55,000. Institutional investors and hedge funds own 58.05% of the company's stock.

About CS Disco

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.