CS Disco (NYSE:LAW - Get Rating) had its price objective dropped by investment analysts at Citigroup to $33.00 in a research report issued to clients and investors on Monday, Stock Target Advisor reports. The brokerage currently has a "na" rating on the stock. Citigroup's target price points to a potential upside of 33.55% from the company's current price.
LAW has been the subject of several other research reports. JPMorgan Chase & Co. lowered their price objective on shares of CS Disco from $67.00 to $55.00 and set an "overweight" rating for the company in a research report on Friday, February 25th. Zacks Investment Research upgraded CS Disco from a "sell" rating to a "hold" rating in a research note on Friday, April 1st. Canaccord Genuity Group reduced their target price on CS Disco from $64.00 to $45.00 and set a "buy" rating for the company in a research note on Friday, February 25th. Stifel Nicolaus reduced their target price on CS Disco from $60.00 to $50.00 and set a "buy" rating for the company in a research note on Monday, March 21st. Finally, Needham & Company LLC reduced their target price on CS Disco from $50.00 to $35.00 in a research note on Friday. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $46.79.
NYSE:LAW traded down $1.47 during trading hours on Monday, hitting $24.71. The stock had a trading volume of 269,823 shares, compared to its average volume of 418,482. CS Disco has a 1-year low of $19.57 and a 1-year high of $69.41. The business has a 50 day simple moving average of $30.98 and a two-hundred day simple moving average of $35.39. The company has a market cap of $1.45 billion and a PE ratio of -31.68.
CS Disco (NYSE:LAW - Get Rating) last issued its quarterly earnings data on Thursday, May 12th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.06. CS Disco had a negative net margin of 26.05% and a negative return on equity of 22.48%. The company had revenue of $34.50 million during the quarter, compared to the consensus estimate of $30.68 million. During the same quarter last year, the company earned ($0.22) earnings per share. CS Disco's revenue for the quarter was up 63.3% on a year-over-year basis. As a group, equities research analysts expect that CS Disco will post -1.01 earnings per share for the current fiscal year.
In other CS Disco news, CFO Michael Lafair sold 14,000 shares of the company's stock in a transaction dated Monday, April 4th. The shares were sold at an average price of $35.81, for a total value of $501,340.00. Following the completion of the transaction, the chief financial officer now owns 396,317 shares in the company, valued at approximately $14,192,111.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Andrew Shimek sold 15,000 shares of the company's stock in a transaction dated Friday, April 8th. The stock was sold at an average price of $31.94, for a total transaction of $479,100.00. Following the completion of the transaction, the executive now owns 126,574 shares of the company's stock, valued at approximately $4,042,773.56. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,000 shares of company stock worth $1,458,680.
Several institutional investors have recently bought and sold shares of LAW. Deer Management Co. LLC bought a new position in shares of CS Disco in the fourth quarter valued at approximately $355,905,000. Stephens Group LLC bought a new position in shares of CS Disco in the fourth quarter valued at approximately $323,194,000. Dragoneer Investment Group LLC boosted its holdings in shares of CS Disco by 277.1% in the fourth quarter. Dragoneer Investment Group LLC now owns 3,426,535 shares of the company's stock valued at $122,499,000 after acquiring an additional 2,517,885 shares in the last quarter. Norges Bank bought a new position in shares of CS Disco in the fourth quarter valued at approximately $82,850,000. Finally, Wasatch Advisors Inc. bought a new position in shares of CS Disco in the third quarter valued at approximately $99,823,000. Institutional investors and hedge funds own 79.42% of the company's stock.
CS Disco Company Profile (Get Rating)
CS Disco, Inc, a legal technology company, 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.
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