Needham & Company LLC Reaffirms “Buy” Rating for CS Disco (NYSE:LAW)

CS Disco (NYSE:LAW)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research report issued on Monday,Benzinga reports. They currently have a $8.00 price target on the stock. Needham & Company LLC’s price target would suggest a potential upside of 25.39% from the stock’s current price.

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

CS Disco Stock Down 2.3 %

Shares of LAW opened at $6.38 on Monday. CS Disco has a 52-week low of $4.71 and a 52-week high of $8.80. The firm has a market cap of $382.22 million, a price-to-earnings ratio of -10.63 and a beta of 2.04. The business’s 50 day moving average is $5.91 and its two-hundred day moving average is $5.74.

CS Disco (NYSE:LAW) last released its quarterly earnings data 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%. CS Disco’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. On average, equities analysts expect that CS Disco will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Michael Lafair sold 12,042 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $5.40, for a total value of $65,026.80. Following the completion of the transaction, the chief financial officer now owns 781,060 shares in the company, valued at $4,217,724. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 15.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CS Disco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of CS Disco by 34.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock valued at $3,972,000 after purchasing an additional 170,496 shares during the period. Renaissance Technologies LLC lifted its stake in CS Disco by 188.9% in the second quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock valued at $868,000 after buying an additional 95,200 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of CS Disco by 4.2% in the first quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company’s stock valued at $16,514,000 after buying an additional 82,549 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of CS Disco by 9.2% during the third quarter. ArrowMark Colorado Holdings LLC now owns 954,328 shares of the company’s stock worth $5,611,000 after acquiring an additional 80,496 shares in the last quarter. Finally, Franklin Resources Inc. increased its position in shares of CS Disco by 2.0% during the third quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company’s stock worth $10,710,000 after acquiring an additional 34,351 shares in the last quarter. 58.05% of the stock is owned by 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.