JPMorgan Chase & Co. Begins Coverage on CS Disco (NYSE:LAW)

JPMorgan Chase & Co. initiated coverage on shares of CS Disco (NYSE:LAW) in a report released on Monday morning, MarketBeat.com reports. The firm issued a neutral rating and a $9.00 price objective on the stock.

A number of other research firms have also issued reports on LAW. Piper Sandler upped their target price 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. Needham & Company LLC restated a buy rating and issued a $15.00 target price on shares of CS Disco in a report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $10.31.

CS Disco Stock Up 4.5 %

CS Disco stock opened at $8.13 on Monday. CS Disco has a 52 week low of $5.07 and a 52 week high of $10.77. The firm’s 50-day simple moving average is $7.66 and its 200 day simple moving average is $7.00. The firm has a market capitalization of $496.43 million, a PE ratio of -11.45 and a beta of 2.21.

CS Disco (NYSE:LAW) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.11. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. The business had revenue of $35.74 million for the quarter, compared to analyst estimates of $34.94 million. On average, research analysts expect that CS Disco will post -0.78 EPS 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 dated Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total transaction of $58,747.48. Following the completion of the transaction, the chief financial officer now owns 826,345 shares of the company’s stock, valued at approximately $5,635,672.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased 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 purchasing an additional 48,558 shares in the last quarter. Vanguard Group Inc. increased 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 purchasing an additional 218,080 shares in the last quarter. Wasatch Advisors Inc. increased 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 purchasing an additional 134,967 shares in the last quarter. Norges Bank acquired a new stake in CS Disco during the 4th quarter worth approximately $13,467,000. Finally, Bank of New York Mellon Corp increased its position in CS Disco by 81.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company’s stock worth $7,869,000 after purchasing an additional 353,335 shares in the last quarter. Institutional investors and hedge funds 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.