CS Disco (NYSE:LAW) Lowered to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of CS Disco (NYSE:LAW) from a neutral rating to an underweight rating in a report published on Tuesday, Marketbeat.com reports. The brokerage currently has $5.00 price target on the stock, down from their previous price target of $8.00.

Separately, Needham & Company LLC reduced their target price on shares of CS Disco from $15.00 to $11.00 and set a buy rating on the stock in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $9.31.

CS Disco Stock Down 4.4 %

CS Disco stock opened at $5.59 on Tuesday. The company has a market cap of $334.99 million, a price-to-earnings ratio of -10.34 and a beta of 2.09. The firm’s fifty day moving average is $6.47 and its 200 day moving average is $7.28. CS Disco has a 52-week low of $4.92 and a 52-week high of $10.77.

CS Disco (NYSE:LAW) last announced its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05). CS Disco had a negative net margin of 23.03% and a negative return on equity of 15.04%. The firm had revenue of $35.60 million during the quarter, compared to analysts’ expectations of $35.52 million. During the same period in the prior year, the company posted ($0.32) EPS. The company’s revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts anticipate that CS Disco will post -0.69 earnings per share for the current fiscal year.

Hedge Funds Weigh In On CS Disco

A number of institutional investors and hedge funds have recently made changes to their positions in LAW. Worth Venture Partners LLC acquired a new position in shares of CS Disco during the third quarter worth about $89,000. Public Employees Retirement System of Ohio acquired a new position in shares of CS Disco during the third quarter worth about $120,000. SG Americas Securities LLC grew its position in shares of CS Disco by 26.5% during the fourth quarter. SG Americas Securities LLC now owns 12,788 shares of the company’s stock worth $97,000 after buying an additional 2,681 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of CS Disco during the fourth quarter worth about $27,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of CS Disco by 29.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,778 shares of the company’s stock worth $120,000 after buying an additional 3,600 shares in the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.

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.