CS Disco (NYSE:LAW) Trading 5.1% Higher

Shares of CS Disco, Inc. (NYSE:LAW - Get Free Report) shot up 5.1% during trading on Friday . The company traded as high as $8.43 and last traded at $8.40. 136,444 shares changed hands during trading, a decline of 31% from the average session volume of 198,892 shares. The stock had previously closed at $7.99.

Analyst Ratings Changes

Several research firms have recently commented on LAW. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of CS Disco in a research report on Friday, March 15th. Piper Sandler boosted their target price on shares of CS Disco from $6.50 to $7.50 and gave the company 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 note on Monday, March 25th. They issued a "neutral" rating and a $9.00 price target on the stock. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, CS Disco presently has a consensus rating of "Hold" and an average target price of $10.31.

CS Disco Stock Performance

The company has a market capitalization of $513.51 million, a price-to-earnings ratio of -11.80 and a beta of 2.26. The firm has a fifty day moving average price of $7.63 and a 200-day moving average price of $7.01.

CS Disco (NYSE:LAW - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.20) by $0.11. The firm had revenue of $35.74 million for the quarter, compared to the consensus estimate of $34.94 million. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. On average, sell-side analysts forecast that CS Disco, Inc. will post -0.79 EPS for the current fiscal year.

Insider Activity 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 stock was sold at an average price of $6.82, for a total transaction of $58,747.48. Following the completion of the sale, the chief financial officer now directly owns 826,345 shares in the company, valued at $5,635,672.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 22.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CS Disco

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in CS Disco in the 3rd quarter valued at approximately $120,000. Jump Financial LLC acquired a new stake in shares of CS Disco during the 3rd quarter valued at $96,000. Bank of New York Mellon Corp grew its position in CS Disco by 25.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 261,096 shares of the company's stock worth $1,734,000 after acquiring an additional 52,714 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in CS Disco in the 3rd quarter worth about $73,000. Finally, SG Americas Securities LLC acquired a new position in CS Disco in the 3rd quarter worth about $67,000. Institutional investors and hedge funds own 58.05% of the company's stock.

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.