Needham & Company LLC Trims CS Disco (NYSE:LAW) Target Price to $11.00

CS Disco (NYSE:LAW) had its price target dropped by equities research analysts at Needham & Company LLC from $15.00 to $11.00 in a report issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price would suggest a potential upside of 36.99% from the company’s current price.

A number of other brokerages also recently issued reports on LAW. JPMorgan Chase & Co. assumed coverage on CS Disco in a research note on Monday, March 25th. They issued a “neutral” rating and a $9.00 target price for the company. Piper Sandler raised their price objective on CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, CS Disco presently has an average rating of “Hold” and an average price target of $9.81.

CS Disco Stock Up 0.6 %

Shares of LAW opened at $8.03 on Friday. CS Disco has a 52-week low of $5.07 and a 52-week high of $10.77. The company has a market capitalization of $487.10 million, a PE ratio of -11.31 and a beta of 2.23. The stock has a fifty day simple moving average of $7.64 and a two-hundred day simple moving average of $7.27.

CS Disco (NYSE:LAW) last issued its earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.11. CS Disco had a negative return on equity of 19.09% and a negative net margin of 30.52%. The business had revenue of $35.74 million during the quarter, compared to the consensus estimate of $34.94 million. As a group, equities analysts anticipate that CS Disco will post -0.76 earnings per share for the current fiscal year.

Insider Activity at CS Disco

In related news, CFO Michael Lafair sold 8,614 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was 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 directly owns 826,345 shares in the company, valued at approximately $5,635,672.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 22.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On CS Disco

A number of hedge funds and other institutional investors have recently bought and sold shares of LAW. SG Americas Securities LLC purchased a new position in CS Disco during the 3rd quarter valued at about $67,000. Bank of New York Mellon Corp boosted its holdings in CS Disco by 25.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 261,096 shares of the company’s stock valued at $1,734,000 after acquiring an additional 52,714 shares during the period. Venturi Wealth Management LLC boosted its stake in shares of CS Disco by 45.2% in the 3rd quarter. Venturi Wealth Management LLC now owns 7,260 shares of the company’s stock valued at $48,000 after buying an additional 2,260 shares during the period. Jump Financial LLC purchased a new position in shares of CS Disco in the 3rd quarter valued at about $96,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of CS Disco in the 3rd quarter valued at about $73,000. 58.05% of the stock is currently owned by hedge funds and other 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.