CS Disco (NYSE:LAW) Price Target Cut to $5.50 by Analysts at Jefferies Financial Group

CS Disco (NYSE:LAW) had its price objective reduced by research analysts at Jefferies Financial Group from $6.00 to $5.50 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 10.89% from the company’s previous close.

Separately, Needham & Company LLC restated a “buy” rating and set a $8.00 price target on shares of CS Disco in a research note on Monday, December 9th.

CS Disco Stock Performance

NYSE LAW traded up $0.01 on Monday, reaching $4.96. The stock had a trading volume of 81,056 shares, compared to its average volume of 76,841. The stock has a market cap of $297.15 million, a P/E ratio of -8.27 and a beta of 2.06. CS Disco has a 12-month low of $4.71 and a 12-month high of $8.80. The business’s 50-day moving average price is $5.70 and its 200 day moving average price is $5.67.

CS Disco (NYSE:LAW) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The business had revenue of $36.27 million during the quarter, compared to analyst estimates of $36.33 million. CS Disco had a negative net margin of 25.36% and a negative return on equity of 19.20%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. On average, sell-side analysts predict that CS Disco will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael Lafair sold 12,042 shares of CS Disco stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $5.40, for a total value of $65,026.80. Following the sale, the chief financial officer now directly owns 781,060 shares in the company, valued at $4,217,724. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CS Disco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its holdings 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 valued at $868,000 after purchasing an additional 95,200 shares in the last quarter. Barclays PLC increased its holdings in CS Disco by 291.1% in the third quarter. Barclays PLC now owns 40,919 shares of the company’s stock valued at $241,000 after buying an additional 30,456 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in shares of CS Disco during the 3rd quarter valued at approximately $67,000. Dimensional Fund Advisors LP boosted its stake in shares of CS Disco by 34.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock worth $3,972,000 after acquiring an additional 170,496 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of CS Disco by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 218,990 shares of the company’s stock worth $1,288,000 after acquiring an additional 7,551 shares during the period. Institutional investors and hedge funds 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.