CS Disco (NYSE:LAW) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CS Disco (NYSE:LAW) in a research report released on Thursday,Benzinga reports. Needham & Company LLC currently has a $8.00 target price on the stock.

CS Disco Stock Performance

LAW stock opened at $3.99 on Thursday. The stock has a market capitalization of $242.62 million, a PE ratio of -4.34 and a beta of 2.05. The company has a fifty day moving average of $3.96 and a 200-day moving average of $4.91. CS Disco has a one year low of $3.31 and a one year high of $7.09.

CS Disco (NYSE:LAW) last released its earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.05). The business had revenue of $37.00 million for the quarter, compared to analyst estimates of $36.03 million. CS Disco had a negative return on equity of 22.30% and a negative net margin of 38.51%. Equities analysts forecast that CS Disco will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael Lafair sold 13,146 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $5.19, for a total value of $68,227.74. Following the sale, the chief financial officer now directly owns 865,793 shares in the company, valued at $4,493,465.67. This represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 22,995 shares of company stock worth $118,818. Company insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On CS Disco

Several hedge funds have recently bought and sold shares of the stock. Topline Capital Management LLC acquired a new stake in shares of CS Disco during the fourth quarter valued at $9,530,000. Norges Bank purchased a new position in shares of CS Disco during the fourth quarter valued at approximately $8,854,000. Formula Growth Ltd. boosted its position in CS Disco by 23.0% during the fourth quarter. Formula Growth Ltd. now owns 750,000 shares of the company’s stock worth $3,742,000 after acquiring an additional 140,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in CS Disco by 457.4% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,531 shares of the company’s stock worth $746,000 after acquiring an additional 122,703 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in CS Disco by 104.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company’s stock valued at $1,169,000 after acquiring an additional 101,391 shares during the last quarter. Hedge funds and other institutional investors own 58.05% of the company’s stock.

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.