Analysts Set CS Disco, Inc. (NYSE:LAW) PT at $10.31

CS Disco, Inc. (NYSE:LAW) has received an average recommendation of “Hold” from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $10.31.

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on CS Disco in a report on Monday, March 25th. They set a “neutral” rating and a $9.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of CS Disco in a report on Wednesday, April 10th. Finally, Piper Sandler lifted their target price on CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a report on Friday, February 23rd.

Insider Transactions at CS Disco

In related news, CFO Michael Lafair sold 8,614 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $6.82, for a total value of $58,747.48. Following the transaction, the chief financial officer now owns 826,345 shares in the company, valued at $5,635,672.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC bought a new position in CS Disco in the fourth quarter valued at about $27,000. Ensign Peak Advisors Inc bought a new position in CS Disco in the third quarter valued at about $32,000. Quantbot Technologies LP bought a new position in CS Disco in the first quarter valued at about $33,000. State of Wyoming bought a new position in CS Disco in the second quarter valued at about $35,000. Finally, Barclays PLC grew its position in CS Disco by 67.6% in 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 last quarter. Institutional investors own 58.05% of the company’s stock.

CS Disco Price Performance

Shares of CS Disco stock opened at $7.48 on Wednesday. The business has a fifty day simple moving average of $7.56 and a two-hundred day simple moving average of $7.10. CS Disco has a 1 year low of $5.07 and a 1 year high of $10.77. The company has a market capitalization of $456.42 million, a price-to-earnings ratio of -10.53 and a beta of 2.26.

CS Disco (NYSE:LAW) last announced its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $35.74 million during the quarter, compared to the consensus estimate of $34.94 million. As a group, equities analysts anticipate that CS Disco will post -0.78 earnings per share for the current fiscal year.

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.