CS Disco (NYSE:LAW) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of CS Disco (NYSE:LAW) in a report released on Monday,Benzinga reports. Needham & Company LLC currently has a $8.00 price target on the stock.

Separately, Jefferies Financial Group increased their price objective on CS Disco from $5.50 to $6.00 and gave the company a “hold” rating in a research note on Tuesday, October 29th.

CS Disco Price Performance

NYSE LAW opened at $6.56 on Monday. The stock’s fifty day moving average price is $5.90 and its 200 day moving average price is $5.74. The company has a market cap of $393.01 million, a price-to-earnings ratio of -10.93 and a beta of 2.04. CS Disco has a 1 year low of $4.71 and a 1 year high of $8.80.

CS Disco (NYSE:LAW) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The business had revenue of $36.27 million for the quarter, compared to analyst estimates of $36.33 million. CS Disco had a negative return on equity of 19.20% and a negative net margin of 25.36%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.02) earnings per share. Research analysts expect that CS Disco will post -0.69 earnings per share for the current year.

Insider Buying and Selling at CS Disco

In other news, CFO Michael Lafair sold 12,042 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $5.40, for a total transaction of $65,026.80. Following the completion of the sale, the chief financial officer now owns 781,060 shares in the company, valued at $4,217,724. This represents a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CS Disco

A number of large investors have recently modified their holdings of the business. nVerses Capital LLC purchased a new stake in CS Disco during the second quarter worth $36,000. Meeder Asset Management Inc. purchased a new stake in shares of CS Disco during the 2nd quarter worth about $37,000. Bleakley Financial Group LLC acquired a new stake in CS Disco in the third quarter valued at approximately $67,000. The Manufacturers Life Insurance Company increased its position in shares of CS Disco by 27.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock worth $80,000 after acquiring an additional 2,871 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in CS Disco by 6.9% during the 1st quarter. California State Teachers Retirement System now owns 26,808 shares of the company’s stock valued at $218,000 after acquiring an additional 1,730 shares during the last quarter. 58.05% of the stock is owned by hedge funds and other institutional investors.

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.