CS Disco (NYSE:LAW) Receives Buy Rating from Needham & Company LLC

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

Separately, Jefferies Financial Group increased their price target on CS Disco from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th.

CS Disco Price Performance

Shares of NYSE:LAW traded down $0.10 during trading on Thursday, hitting $5.93. The company had a trading volume of 108,459 shares, compared to its average volume of 215,124. The stock has a market cap of $352.72 million, a price-to-earnings ratio of -12.81 and a beta of 2.07. CS Disco has a one year low of $4.71 and a one year high of $8.80. The company has a fifty day simple moving average of $5.80 and a two-hundred day simple moving average of $5.99.

CS Disco (NYSE:LAW) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The company had revenue of $36.27 million during the quarter, compared to the consensus estimate of $36.33 million. CS Disco had a negative net margin of 19.88% and a negative return on equity of 14.18%. CS Disco’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. On average, equities research analysts anticipate that CS Disco will post -0.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Scott A. Hill bought 23,554 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $5.39 per share, with a total value of $126,956.06. Following the transaction, the director now owns 187,615 shares of the company’s stock, valued at $1,011,244.85. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 15.60% of the stock is currently owned by company insiders.

Institutional Trading of CS Disco

Several hedge funds and other institutional investors have recently bought and sold shares of LAW. Dimensional Fund Advisors LP boosted its position in CS Disco by 34.4% during the 2nd 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 in the last quarter. Renaissance Technologies LLC boosted its position in shares of CS Disco by 188.9% in the 2nd quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock worth $868,000 after purchasing an additional 95,200 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of CS Disco by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company’s stock worth $16,514,000 after purchasing an additional 82,549 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of CS Disco in the 1st quarter worth $220,000. Finally, Algert Global LLC boosted its position in shares of CS Disco by 35.4% in the 2nd quarter. Algert Global LLC now owns 100,587 shares of the company’s stock worth $599,000 after purchasing an additional 26,293 shares in the last quarter. 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.