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

CS Disco (NYSE:LAW - Get Free Report)'s stock had its "buy" rating reiterated by Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $8.00 price objective on the stock. Needham & Company LLC's target price suggests a potential upside of 30.72% from the stock's previous close.

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

CS Disco Stock Down 3.9 %

Shares of LAW traded down $0.25 during mid-day trading on Thursday, hitting $6.12. The company had a trading volume of 158,619 shares, compared to its average volume of 215,185. The stock has a market cap of $364.02 million, a PE ratio of -13.55 and a beta of 2.07. The business's 50-day simple moving average is $5.79 and its 200-day simple moving average is $5.99. CS Disco has a 1-year low of $4.71 and a 1-year high of $8.80.

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

Insider Transactions at CS Disco

In related news, Director Scott A. Hill purchased 23,554 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $5.39 per share, for a total transaction of $126,956.06. Following the completion of the transaction, the director now directly owns 187,615 shares in the company, valued at $1,011,244.85. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 15.60% of the company's stock.

Institutional Investors Weigh In On CS Disco

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of CS Disco by 34.4% during the second quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company's stock worth $3,972,000 after purchasing an additional 170,496 shares during the last quarter. Renaissance Technologies LLC lifted its stake in CS Disco by 188.9% in 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. Vanguard Group Inc. boosted its stake in CS Disco by 4.2% during the 1st quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company's stock valued at $16,514,000 after purchasing an additional 82,549 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in CS Disco in the 1st quarter valued at approximately $220,000. Finally, Algert Global LLC grew its position in CS Disco by 35.4% in the 2nd quarter. Algert Global LLC now owns 100,587 shares of the company's stock valued at $599,000 after buying an additional 26,293 shares in the last quarter. 58.05% of the stock is owned by hedge funds and other institutional investors.

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.