CS Disco, Inc. (NYSE:LAW) Given Consensus Recommendation of “Hold” by Brokerages

Shares of CS Disco, Inc. (NYSE:LAWGet Rating) have earned a consensus rating of “Hold” from the eleven research firms that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $30.11.

Several brokerages have commented on LAW. Cowen cut shares of CS Disco from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $35.00 to $20.00 in a research report on Friday, August 12th. Cowen lowered shares of CS Disco from an “outperform” rating to a “market perform” rating in a report on Friday, August 12th. Stifel Nicolaus cut their price target on shares of CS Disco from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, August 12th. Jefferies Financial Group lowered shares of CS Disco from a “buy” rating to a “hold” rating and cut their price target for the stock from $35.00 to $25.00 in a research note on Friday, August 12th. Finally, Bank of America lowered shares of CS Disco from a “buy” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $25.00 in a research note on Friday, August 12th.

CS Disco Stock Performance

NYSE:LAW opened at $11.96 on Tuesday. The firm’s fifty day moving average is $18.87 and its two-hundred day moving average is $23.99. The firm has a market cap of $701.97 million, a price-to-earnings ratio of -13.29 and a beta of 2.54. CS Disco has a one year low of $11.43 and a one year high of $58.52.

CS Disco (NYSE:LAWGet Rating) last released its quarterly earnings data on Thursday, August 11th. The company reported ($0.33) EPS for the quarter, meeting analysts’ consensus estimates of ($0.33). CS Disco had a negative net margin of 38.19% and a negative return on equity of 18.36%. The company had revenue of $33.71 million during the quarter, compared to the consensus estimate of $33.40 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. CS Disco’s quarterly revenue was up 14.1% on a year-over-year basis. As a group, equities research analysts predict that CS Disco will post -1.27 earnings per share for the current fiscal year.

Insider Transactions at CS Disco

In related news, CFO Michael Lafair sold 48,761 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $29.53, for a total transaction of $1,439,912.33. Following the completion of the sale, the chief financial officer now directly owns 374,726 shares in the company, valued at $11,065,658.78. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold a total of 51,631 shares of company stock valued at $1,501,671 over the last ninety days.

Hedge Funds Weigh In On CS Disco

A number of institutional investors and hedge funds have recently bought and sold shares of LAW. Legal & General Group Plc increased its holdings in CS Disco by 619.6% in the 2nd quarter. Legal & General Group Plc now owns 10,045 shares of the company’s stock valued at $182,000 after buying an additional 8,649 shares during the period. State Street Corp increased its holdings in CS Disco by 30.2% in the 2nd quarter. State Street Corp now owns 404,462 shares of the company’s stock valued at $7,296,000 after buying an additional 93,912 shares during the period. Capital Impact Advisors LLC bought a new stake in CS Disco in the 2nd quarter valued at $297,000. Cubist Systematic Strategies LLC increased its holdings in CS Disco by 93.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 43,928 shares of the company’s stock valued at $792,000 after buying an additional 21,214 shares during the period. Finally, Sei Investments Co. increased its holdings in CS Disco by 171.1% in the 2nd quarter. Sei Investments Co. now owns 35,689 shares of the company’s stock valued at $644,000 after buying an additional 22,524 shares during the period. Institutional investors own 61.27% of the company’s stock.

About CS Disco

(Get Rating)

CS Disco, Inc, a legal technology company, provides cloud-native and artificial intelligence-powered legal solutions for ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments. The company offers DISCO Ediscovery, a solution that automates 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.

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Analyst Recommendations for CS Disco (NYSE:LAW)

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