CS Disco's (LAW) "Buy" Rating Reaffirmed at Needham & Company LLC

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

CS Disco Stock Performance

Shares of NYSE LAW remained flat at $3.99 during midday trading on Thursday. The stock had a trading volume of 116,423 shares, compared to its average volume of 149,744. CS Disco has a 12-month low of $3.31 and a 12-month high of $7.09. The firm has a market capitalization of $242.62 million, a price-to-earnings ratio of -4.34 and a beta of 2.05. The business's 50-day moving average price is $3.96 and its 200 day moving average price is $4.91.

CS Disco (NYSE:LAW - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $37.00 million for the quarter, compared to the consensus estimate of $36.03 million. CS Disco had a negative return on equity of 22.30% and a negative net margin of 38.51%. As a group, research analysts expect that CS Disco will post -0.64 EPS for the current year.

Insider Transactions at CS Disco

In other news, CFO Michael Lafair sold 13,146 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total transaction of $68,227.74. Following the transaction, the chief financial officer now owns 865,793 shares in the company, valued at approximately $4,493,465.67. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 22,995 shares of company stock valued at $118,818. 15.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pilgrim Partners Asia Pte Ltd bought a new position in shares of CS Disco during the fourth quarter valued at approximately $43,000. R Squared Ltd purchased a new stake in CS Disco during the fourth quarter worth $47,000. Virtu Financial LLC bought a new stake in CS Disco during the 4th quarter valued at $54,000. Meeder Asset Management Inc. increased its holdings 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 acquiring an additional 3,650 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of CS Disco in the 4th quarter worth $55,000. 58.05% of the stock is currently owned by institutional investors.

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.