Needham & Company LLC restated their buy rating on shares of CS Disco (NYSE:LAW - Free Report) in a research report sent to investors on Wednesday, Benzinga reports. Needham & Company LLC currently has a $15.00 target price on the stock.
Several other analysts also recently issued reports on the stock. Piper Sandler upped their price objective on shares of CS Disco from $6.50 to $7.50 and gave the stock a neutral rating in a report on Friday, February 23rd. JPMorgan Chase & Co. initiated coverage on shares of CS Disco in a research report on Monday, March 25th. They set a neutral rating and a $9.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $10.31.
Read Our Latest Stock Analysis on CS Disco
CS Disco Price Performance
Shares of NYSE:LAW traded down $0.62 on Wednesday, reaching $7.94. 222,206 shares of the company traded hands, compared to its average volume of 199,497. CS Disco has a fifty-two week low of $5.07 and a fifty-two week high of $10.77. The company's 50 day moving average is $7.62 and its 200-day moving average is $7.05. The stock has a market capitalization of $484.82 million, a PE ratio of -11.24 and a beta of 2.26.
CS Disco (NYSE:LAW - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.11. CS Disco had a negative return on equity of 19.09% and a negative net margin of 30.52%. The company had revenue of $35.74 million during the quarter, compared to the consensus estimate of $34.94 million. As a group, analysts expect that CS Disco will post -0.78 EPS for the current year.
Insiders Place Their Bets
In other news, CFO Michael Lafair sold 8,614 shares of the company's stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total transaction of $58,747.48. Following the completion of the transaction, the chief financial officer now owns 826,345 shares of the company's stock, valued at $5,635,672.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 22.30% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in CS Disco by 251.2% in the first quarter. JPMorgan Chase & Co. now owns 30,483 shares of the company's stock valued at $1,035,000 after acquiring an additional 21,804 shares during the period. Bank of New York Mellon Corp boosted its holdings in CS Disco by 804.8% during the first quarter. Bank of New York Mellon Corp now owns 391,928 shares of the company's stock valued at $13,314,000 after purchasing an additional 348,613 shares in the last quarter. MetLife Investment Management LLC grew its stake in shares of CS Disco by 57.0% in the 1st quarter. MetLife Investment Management LLC now owns 7,729 shares of the company's stock valued at $263,000 after purchasing an additional 2,806 shares during the period. Rhumbline Advisers raised its holdings in shares of CS Disco by 54.6% in the 1st quarter. Rhumbline Advisers now owns 15,648 shares of the company's stock worth $532,000 after buying an additional 5,529 shares in the last quarter. Finally, BlackRock Inc. lifted its position in shares of CS Disco by 17.2% during the 1st quarter. BlackRock Inc. now owns 2,266,047 shares of the company's stock worth $76,978,000 after buying an additional 332,076 shares during the period. 58.05% of the stock is currently owned by institutional investors and hedge funds.
About CS Disco
(
Get Free Report)
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.
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