CS Disco (NYSE:LAW) Trading Up 8.8% – Time to Buy?

CS Disco, Inc. (NYSE:LAW) shares were up 8.8% during mid-day trading on Tuesday . The stock traded as high as $9.00 and last traded at $8.93. Approximately 186,567 shares traded hands during trading, an increase of 22% from the average daily volume of 153,402 shares. The stock had previously closed at $8.21.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LAW. Weiss Ratings restated a “sell (d-)” rating on shares of CS Disco in a research report on Wednesday, October 8th. Needham & Company LLC upped their target price on shares of CS Disco from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Finally, Wall Street Zen raised 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 issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, CS Disco currently has a consensus rating of “Hold” and an average price target of $7.75.

CS Disco Stock Up 1.6%

The firm’s fifty day moving average price is $6.75 and its 200-day moving average price is $5.47.

CS Disco (NYSE:LAW) last released its earnings results on Wednesday, November 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. CS Disco had a negative return on equity of 26.05% and a negative net margin of 40.00%.The firm had revenue of $40.92 million for the quarter, compared to analyst estimates of $38.52 million. On average, analysts anticipate that CS Disco, Inc. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at CS Disco

In related news, Director Thomas F. Bogan acquired 30,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were purchased at an average price of $5.80 per share, for a total transaction of $174,000.00. Following the acquisition, the director owned 101,090 shares in the company, valued at approximately $586,322. This represents a 42.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders acquired 93,500 shares of company stock valued at $552,604. Company insiders own 16.10% of the company’s stock.

Hedge Funds Weigh In On CS Disco

A number of large investors have recently made changes to their positions in the business. Topline Capital Management LLC grew its holdings in shares of CS Disco by 8.1% during the 3rd quarter. Topline Capital Management LLC now owns 3,206,003 shares of the company’s stock valued at $20,711,000 after acquiring an additional 240,735 shares in the last quarter. Vanguard Group Inc. increased its position in CS Disco by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,959,087 shares of the company’s stock worth $12,656,000 after purchasing an additional 33,672 shares during the last quarter. Formula Growth Ltd. increased its position in CS Disco by 3.8% in the 2nd quarter. Formula Growth Ltd. now owns 830,000 shares of the company’s stock worth $3,627,000 after purchasing an additional 30,000 shares during the last quarter. Norges Bank purchased a new stake in shares of CS Disco during the 2nd quarter worth about $2,863,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of CS Disco during the 3rd quarter valued at about $2,868,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

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.