CS Disco (NYSE:LAW) Shares Up 7% – Still a Buy?

Shares of CS Disco, Inc. (NYSE:LAW) were up 7% on Friday . The stock traded as high as $3.69 and last traded at $3.67. Approximately 823,083 shares were traded during mid-day trading, an increase of 258% from the average daily volume of 230,106 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

Several equities research analysts recently commented on LAW shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of CS Disco in a research report on Thursday, February 26th. Wall Street Zen cut shares of CS Disco from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of CS Disco from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 16th. Finally, Canaccord Genuity Group reduced their price target on shares of CS Disco from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $8.00.

CS Disco Stock Performance

The firm has a fifty day moving average price of $3.86 and a two-hundred day moving average price of $4.91. The stock has a market capitalization of $235.36 million, a P/E ratio of -5.40 and a beta of 1.91.

CS Disco (NYSE:LAW) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. CS Disco had a negative return on equity of 26.12% and a negative net margin of 26.28%.The company had revenue of $41.88 million during the quarter, compared to analyst estimates of $40.30 million.

Insider Transactions at CS Disco

In other news, CEO Eric Friedrichsen purchased 9,000 shares of the business’s stock in a transaction on Friday, May 8th. The stock was acquired at an average cost of $3.97 per share, for a total transaction of $35,730.00. Following the purchase, the chief executive officer directly owned 1,517,172 shares in the company, valued at $6,023,172.84. This trade represents a 0.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 16.80% of the company’s stock.

Hedge Funds Weigh In On CS Disco

Several institutional investors have recently made changes to their positions in LAW. Cubist Systematic Strategies LLC purchased a new position in shares of CS Disco in the first quarter worth approximately $216,000. Jane Street Group LLC raised its position in CS Disco by 51.6% in the first quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock worth $183,000 after acquiring an additional 15,187 shares during the period. Acadian Asset Management LLC bought a new position in CS Disco in the first quarter worth approximately $195,000. XTX Topco Ltd purchased a new position in shares of CS Disco during the 2nd quarter worth $139,000. Finally, Occudo Quantitative Strategies LP purchased a new position in shares of CS Disco during the 2nd quarter worth $75,000. Institutional investors own 58.05% of the company’s stock.

CS Disco Company Profile

CS Disco, Inc is a provider of cloud-native, artificial intelligence-driven legal applications designed to streamline e-discovery, document review and compliance processes for law firms and corporate legal departments. The Austin, Texas–based company offers a unified platform that automates labor-intensive tasks using machine learning and predictive analytics, enabling legal professionals to process, search and review large volumes of data with greater speed and accuracy.

At the core of CS Disco’s product suite is its flagship e-discovery application, which supports early case assessment, data processing, review analytics and production workflows.