Needham & Company LLC Lowers CS Disco (NYSE:LAW) Price Target to $8.00

CS Disco (NYSE:LAW) had its target price dropped by stock analysts at Needham & Company LLC from $11.00 to $8.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s target price indicates a potential upside of 52.09% from the company’s previous close.

Separately, JPMorgan Chase & Co. lowered shares of CS Disco from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $8.00 to $5.00 in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $7.90.

CS Disco Trading Down 2.4 %

Shares of LAW traded down $0.13 during trading hours on Friday, reaching $5.26. 211,865 shares of the stock traded hands, compared to its average volume of 253,480. The company has a market cap of $315.47 million, a P/E ratio of -9.74 and a beta of 2.09. The company’s 50-day moving average price is $5.69 and its two-hundred day moving average price is $6.87. CS Disco has a 52-week low of $4.92 and a 52-week high of $10.77.

CS Disco (NYSE:LAW) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). CS Disco had a negative return on equity of 15.04% and a negative net margin of 23.03%. The business had revenue of $35.60 million during the quarter, compared to the consensus estimate of $35.52 million. During the same period last year, the company earned ($0.32) EPS. The business’s revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that CS Disco will post -0.68 EPS for the current year.

Institutional Investors Weigh In On CS Disco

Hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC lifted its position in shares of CS Disco by 188.9% during the second quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock valued at $868,000 after buying an additional 95,200 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in CS Disco by 34.4% during the second quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock valued at $3,972,000 after acquiring an additional 170,496 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in CS Disco in the second quarter valued at approximately $37,000. American Century Companies Inc. grew its holdings in CS Disco by 16.8% in the second quarter. American Century Companies Inc. now owns 32,180 shares of the company’s stock worth $192,000 after purchasing an additional 4,632 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of CS Disco by 8.4% during the second quarter. Rhumbline Advisers now owns 38,105 shares of the company’s stock worth $227,000 after purchasing an additional 2,946 shares in the last quarter. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

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.