CS Disco (NYSE:LAW) Sets New 52-Week High – Here’s What Happened

CS Disco, Inc. (NYSE:LAW)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $8.21 and last traded at $8.1690, with a volume of 373028 shares traded. The stock had previously closed at $7.46.

Wall Street Analyst Weigh In

Several research firms have weighed in on LAW. Weiss Ratings reissued a “sell (d-)” rating on shares of CS Disco in a research note on Wednesday, October 8th. Needham & Company LLC lifted their price objective on CS Disco from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Finally, Wall Street Zen upgraded CS Disco from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.75.

CS Disco Price Performance

The company has a market cap of $510.48 million, a PE ratio of -8.09 and a beta of 2.10. The business has a 50 day moving average of $6.62 and a 200 day moving average of $5.38.

CS Disco (NYSE:LAW) last issued its quarterly earnings data on Wednesday, November 5th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.05. The business had revenue of $40.92 million during the quarter, compared to analyst estimates of $38.52 million. CS Disco had a negative net margin of 40.00% and a negative return on equity of 26.05%. Sell-side analysts forecast that CS Disco, Inc. will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Thomas F. Bogan bought 7,001 shares of CS Disco stock in a transaction on Tuesday, November 4th. The shares were purchased at an average price of $5.98 per share, for a total transaction of $41,865.98. Following the acquisition, the director owned 171,090 shares of the company’s stock, valued at approximately $1,023,118.20. The trade was a 4.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 93,500 shares of company stock worth $552,604. Insiders own 16.10% of the company’s stock.

Institutional Investors Weigh In On CS Disco

Several hedge funds have recently added to or reduced their stakes in LAW. CWM LLC increased its holdings in shares of CS Disco by 73.5% during the third quarter. CWM LLC now owns 4,804 shares of the company’s stock valued at $31,000 after acquiring an additional 2,035 shares in the last quarter. Tower Research Capital LLC TRC grew its position in CS Disco by 87.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company’s stock valued at $44,000 after purchasing an additional 4,639 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in CS Disco during the 2nd quarter valued at about $51,000. Pilgrim Partners Asia Pte Ltd bought a new stake in CS Disco during the 3rd quarter valued at about $62,000. Finally, Algert Global LLC purchased a new position in CS Disco in the third quarter worth about $70,000. 58.05% of the stock is owned by 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.