CS Disco (NYSE:LAW) Receives New Coverage from Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of CS Disco (NYSE:LAW) in a report issued on Monday, StockNewsAPI reports. The brokerage set a “neutral” rating and a $9.00 price target on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 14.21% from the company’s previous close.

A number of other research analysts have also recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and issued a $15.00 price objective on shares of CS Disco in a report on Friday, March 15th. Piper Sandler lifted their price objective on shares of CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $10.31.

CS Disco Trading Down 3.0 %

LAW opened at $7.88 on Monday. The firm’s 50-day moving average price is $7.67 and its 200 day moving average price is $7.01. CS Disco has a twelve month low of $5.07 and a twelve month high of $10.77. The firm has a market capitalization of $481.15 million, a PE ratio of -11.10 and a beta of 2.21.

CS Disco (NYSE:LAW) last issued its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. The company had revenue of $35.74 million for the quarter, compared to the consensus estimate of $34.94 million. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. As a group, analysts predict that CS Disco will post -0.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael Lafair sold 8,614 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total value of $58,747.48. Following the completion of the transaction, the chief financial officer now owns 826,345 shares in the company, valued at approximately $5,635,672.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On CS Disco

A number of large investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in CS Disco by 1.9% during the 3rd quarter. BlackRock Inc. now owns 2,620,473 shares of the company’s stock worth $26,204,000 after buying an additional 48,558 shares during the last quarter. Vanguard Group Inc. raised its position in CS Disco by 10.8% during the 3rd quarter. Vanguard Group Inc. now owns 2,243,548 shares of the company’s stock worth $22,435,000 after buying an additional 218,080 shares during the last quarter. Wasatch Advisors Inc. raised its position in CS Disco by 6.7% during the 1st quarter. Wasatch Advisors Inc. now owns 2,160,590 shares of the company’s stock worth $73,395,000 after buying an additional 134,967 shares during the last quarter. Norges Bank purchased a new position in shares of CS Disco in the 4th quarter valued at about $13,467,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of CS Disco by 81.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company’s stock valued at $7,869,000 after purchasing an additional 353,335 shares in the last quarter. Hedge funds and other institutional investors own 58.05% of the company’s stock.

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.