CS Disco’s (LAW) “Buy” Rating Reiterated at Needham & Company LLC

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

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

CS Disco Price Performance

NYSE LAW opened at $5.93 on Thursday. The company has a fifty day moving average of $5.81 and a two-hundred day moving average of $5.96. CS Disco has a 1 year low of $4.71 and a 1 year high of $8.80. The company has a market capitalization of $352.72 million, a PE ratio of -9.88 and a beta of 2.07.

CS Disco (NYSE:LAW) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The firm 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 18.67%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned ($0.02) earnings per share. On average, research analysts expect that CS Disco will post -0.71 earnings per share for the current year.

Insider Buying and Selling at CS Disco

In related news, Director Scott A. Hill bought 23,554 shares of the stock in a transaction on Tuesday, August 13th. The shares were bought at an average cost of $5.39 per share, for a total transaction of $126,956.06. Following the purchase, the director now owns 187,615 shares of the company’s stock, valued at $1,011,244.85. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On CS Disco

Several hedge funds have recently modified their holdings of the stock. nVerses Capital LLC purchased a new position in CS Disco during the 2nd quarter worth $36,000. Meeder Asset Management Inc. acquired a new position in shares of CS Disco during the second quarter worth about $37,000. Allspring Global Investments Holdings LLC purchased a new position in CS Disco during the first quarter worth about $52,000. State Board of Administration of Florida Retirement System acquired a new stake in CS Disco in the first quarter valued at about $83,000. Finally, Bleakley Financial Group LLC purchased a new stake in CS Disco in the 3rd quarter valued at approximately $67,000. 58.05% of the stock is owned by institutional investors and hedge funds.

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.