Analysts Set CS Disco, Inc. (NYSE:LAW) Target Price at $11.00

CS Disco, Inc. (NYSE:LAW) has earned an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.31.

Several analysts recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price target on shares of CS Disco in a report on Friday, March 15th. JPMorgan Chase & Co. began coverage on CS Disco in a research note on Monday. They set a “neutral” rating and a $9.00 target price for the company. Finally, Piper Sandler raised their target price on CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a research note on Friday, February 23rd.

Insider Transactions at CS Disco

In other news, CFO Michael Lafair sold 8,614 shares of the stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total transaction of $58,747.48. Following the transaction, the chief financial officer now owns 826,345 shares of the company’s stock, valued at $5,635,672.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LAW. Nisa Investment Advisors LLC acquired a new position in shares of CS Disco during the fourth quarter valued at approximately $27,000. Ensign Peak Advisors Inc acquired a new position in shares of CS Disco during the third quarter valued at approximately $32,000. Quantbot Technologies LP acquired a new position in shares of CS Disco during the first quarter valued at approximately $33,000. State of Wyoming acquired a new position in shares of CS Disco during the second quarter valued at approximately $35,000. Finally, Barclays PLC increased its stake in shares of CS Disco by 67.6% during the fourth quarter. Barclays PLC now owns 6,054 shares of the company’s stock valued at $38,000 after acquiring an additional 2,442 shares during the period. Institutional investors and hedge funds own 58.05% of the company’s stock.

CS Disco Stock Performance

LAW stock opened at $7.77 on Friday. CS Disco has a 1 year low of $5.07 and a 1 year high of $10.77. The stock’s 50 day moving average price is $7.65 and its 200 day moving average price is $6.99. The firm has a market cap of $474.44 million, a P/E ratio of -10.94 and a beta of 2.21.

CS Disco (NYSE:LAW) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share 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 company had revenue of $35.74 million for the quarter, compared to analyst estimates of $34.94 million. On average, research analysts predict that CS Disco will post -0.78 earnings per share for the current year.

CS Disco Company Profile

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.