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

Needham & Company LLC reissued their buy rating on shares of CS Disco (NYSE:LAW - Free Report) in a research note published on Friday morning,Benzinga reports. Needham & Company LLC currently has a $8.00 price objective on the stock.

Separately, Jefferies Financial Group decreased their price objective on CS Disco from $6.00 to $5.50 and set a "hold" rating on the stock in a report on Monday, January 6th.

CS Disco Trading Down 1.0 %

Shares of NYSE:LAW traded down $0.05 during midday trading on Friday, reaching $5.10. 220,732 shares of the company were exchanged, compared to its average volume of 141,456. The stock has a market cap of $305.54 million, a PE ratio of -5.54 and a beta of 2.06. The business's fifty day moving average is $5.11 and its two-hundred day moving average is $5.53. CS Disco has a one year low of $4.67 and a one year high of $8.57.

CS Disco (NYSE:LAW - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.05). CS Disco had a negative net margin of 38.51% and a negative return on equity of 22.30%. The company had revenue of $37.00 million for the quarter, compared to the consensus estimate of $36.03 million. As a group, sell-side analysts expect that CS Disco will post -0.64 EPS for the current year.

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Insider Buying and Selling

In related news, CFO Michael Lafair sold 13,146 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total transaction of $68,227.74. Following the sale, the chief financial officer now owns 865,793 shares in the company, valued at approximately $4,493,465.67. This represents a 1.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 15.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of CS Disco by 0.4% during the 3rd quarter. State Street Corp now owns 507,626 shares of the company's stock worth $2,985,000 after purchasing an additional 1,995 shares during the period. Wells Fargo & Company MN lifted its stake in CS Disco by 13.6% in the fourth quarter. Wells Fargo & Company MN now owns 23,210 shares of the company's stock worth $116,000 after purchasing an additional 2,781 shares during the last quarter. Rhumbline Advisers boosted its position in shares of CS Disco by 8.8% during the fourth quarter. Rhumbline Advisers now owns 41,156 shares of the company's stock valued at $205,000 after buying an additional 3,326 shares during the period. Meeder Asset Management Inc. boosted its position in shares of CS Disco by 50.7% during the fourth quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company's stock valued at $54,000 after buying an additional 3,650 shares during the period. Finally, Barclays PLC grew its stake in shares of CS Disco by 10.4% during the fourth quarter. Barclays PLC now owns 45,188 shares of the company's stock valued at $226,000 after buying an additional 4,269 shares during the last quarter. Institutional investors own 58.05% of the company's stock.

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.