Jefferies Financial Group Issues Positive Forecast for CS Disco (NYSE:LAW) Stock Price

CS Disco (NYSE:LAW) had its target price hoisted by stock analysts at Jefferies Financial Group from $5.50 to $6.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price target points to a potential upside of 0.84% from the stock’s current price.

Several other research analysts have also recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of CS Disco from $11.00 to $8.00 and set a “buy” rating for the company in a report on Friday, August 9th. JPMorgan Chase & Co. lowered CS Disco from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $8.00 to $5.00 in a research note on Tuesday, July 2nd.

CS Disco Price Performance

LAW opened at $5.95 on Tuesday. CS Disco has a 12 month low of $4.71 and a 12 month high of $8.80. The stock’s 50 day moving average price is $5.74 and its 200 day moving average price is $6.04. The stock has a market cap of $353.91 million, a P/E ratio of -12.66 and a beta of 2.09.

CS Disco (NYSE:LAW) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.01. The business had revenue of $36.01 million for the quarter, compared to analysts’ expectations of $35.52 million. CS Disco had a negative net margin of 19.88% and a negative return on equity of 14.18%. Equities analysts anticipate that CS Disco will post -0.71 EPS for the current year.

Insider Activity

In other CS Disco news, Director Scott A. Hill purchased 23,554 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $5.39 per share, for a total transaction of $126,956.06. Following the completion of the transaction, the director now owns 187,615 shares in the company, valued at $1,011,244.85. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On CS Disco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bleakley Financial Group LLC acquired a new stake in CS Disco during the 3rd quarter worth about $67,000. Algert Global LLC increased its position in shares of CS Disco by 35.4% in the second quarter. Algert Global LLC now owns 100,587 shares of the company’s stock worth $599,000 after acquiring an additional 26,293 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings 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 valued at $80,000 after acquiring an additional 2,871 shares during the period. Renaissance Technologies LLC lifted its position in shares of CS Disco by 188.9% in the 2nd quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock valued at $868,000 after acquiring an additional 95,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in CS Disco by 34.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock worth $3,972,000 after purchasing an additional 170,496 shares during the period. Institutional investors and hedge funds own 58.05% of the company’s stock.

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.