CS Disco, Inc. (NYSE:LAW) Receives $10.31 Average PT from Analysts

Shares of CS Disco, Inc. (NYSE:LAW) have been given a consensus recommendation of “Hold” by the seven research firms that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $10.31.

LAW has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on shares of CS Disco in a report on Monday, March 25th. They issued a “neutral” rating and a $9.00 target price for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of CS Disco in a report on Wednesday, April 10th. Finally, Piper Sandler increased their price target on shares of CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Friday, February 23rd.

CS Disco Stock Performance

Shares of NYSE:LAW opened at $7.73 on Wednesday. The company has a 50-day simple moving average of $7.55 and a 200-day simple moving average of $7.13. CS Disco has a one year low of $5.07 and a one year high of $10.77. The stock has a market capitalization of $471.99 million, a price-to-earnings ratio of -10.89 and a beta of 2.26.

CS Disco (NYSE:LAW) last announced its earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $34.94 million. As a group, research analysts forecast that CS Disco will post -0.78 EPS for the current fiscal year.

Insider Buying and Selling at CS Disco

In other CS Disco news, CFO Michael Lafair sold 8,614 shares of the stock in a transaction dated 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 directly owns 826,345 shares of the company’s stock, valued at $5,635,672.90. The sale was disclosed in a filing with the SEC, which is available at this link. 22.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC purchased a new position in CS Disco in the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC grew its position in shares of CS Disco by 42.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,020 shares of the company’s stock valued at $46,000 after purchasing an additional 1,802 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of CS Disco by 45.2% in the third quarter. Venturi Wealth Management LLC now owns 7,260 shares of the company’s stock valued at $48,000 after purchasing an additional 2,260 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of CS Disco in the first quarter valued at approximately $52,000. Finally, SG Americas Securities LLC acquired a new stake in shares of CS Disco in the third quarter valued at approximately $67,000. 58.05% of the stock is owned by hedge funds and other 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.