Jefferies Financial Group Issues Pessimistic Forecast for CS Disco (NYSE:LAW) Stock Price

CS Disco (NYSE:LAW - Free Report) had its price target trimmed by Jefferies Financial Group from $6.00 to $5.50 in a research note released on Monday morning,Benzinga reports. The firm currently has a hold rating on the stock.

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

CS Disco Price Performance

Shares of NYSE LAW traded down $0.05 during trading hours on Monday, hitting $4.90. 121,595 shares of the company's stock were exchanged, compared to its average volume of 92,032. The company's 50-day moving average price is $5.70 and its 200-day moving average price is $5.67. CS Disco has a 1-year low of $4.71 and a 1-year high of $8.80. The stock has a market capitalization of $293.55 million, a price-to-earnings ratio of -8.17 and a beta of 2.06.

CS Disco (NYSE:LAW - Get Free Report) last announced 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). CS Disco had a negative return on equity of 19.20% and a negative net margin of 25.36%. The company had revenue of $36.27 million during the quarter, compared to analyst estimates of $36.33 million. During the same quarter in the previous year, the business posted ($0.02) EPS. The company's revenue was up 3.8% on a year-over-year basis. On average, research analysts expect that CS Disco will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Michael Lafair sold 12,042 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $5.40, for a total value of $65,026.80. Following the transaction, the chief financial officer now owns 781,060 shares of the company's stock, valued at approximately $4,217,724. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 15.60% of the company's stock.

Institutional Trading of CS Disco

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Meeder Asset Management Inc. acquired a new position in shares of CS Disco in the 2nd quarter valued at $37,000. Bleakley Financial Group LLC bought a new stake in shares of CS Disco in the third quarter worth about $67,000. The Manufacturers Life Insurance Company raised its position in shares of CS Disco by 27.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company's stock worth $80,000 after purchasing an additional 2,871 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of CS Disco during the 3rd quarter valued at about $158,000. Finally, American Century Companies Inc. increased its stake in CS Disco by 16.8% during the 2nd quarter. American Century Companies Inc. now owns 32,180 shares of the company's stock worth $192,000 after purchasing an additional 4,632 shares in the last quarter. 58.05% of the stock is owned by institutional investors.

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.