CS Disco, Inc. (NYSE:LAW) Receives $9.81 Average Price Target from Brokerages

CS Disco, Inc. (NYSE:LAW) has received an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $9.31.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut shares of CS Disco from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $8.00 to $5.00 in a report on Tuesday. Needham & Company LLC cut their target price on CS Disco from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, May 10th.

CS Disco Stock Down 2.3 %

Shares of CS Disco stock opened at $5.46 on Monday. CS Disco has a 52 week low of $4.92 and a 52 week high of $10.77. The business has a 50 day moving average price of $6.43 and a 200-day moving average price of $7.27. The company has a market cap of $327.49 million, a PE ratio of -10.11 and a beta of 2.09.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Norges Bank bought a new stake in shares of CS Disco in the fourth quarter valued at $13,467,000. Berylson Capital Partners LLC raised its stake in CS Disco by 424.2% in the 4th quarter. Berylson Capital Partners LLC now owns 282,569 shares of the company’s stock valued at $2,145,000 after acquiring an additional 228,669 shares during the period. Vanguard Group Inc. lifted its holdings in CS Disco by 4.2% during the first quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company’s stock valued at $16,514,000 after purchasing an additional 82,549 shares during the last quarter. CIBC Private Wealth Group LLC boosted its position in CS Disco by 55.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 221,579 shares of the company’s stock worth $1,682,000 after purchasing an additional 79,208 shares during the period. Finally, Circumference Group LLC purchased a new position in shares of CS Disco in the fourth quarter worth about $455,000. 58.05% of the stock is owned by institutional investors.

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.