Needham & Company LLC Reiterates Buy Rating for CS Disco (NYSE:LAW)

CS Disco (NYSE:LAW - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $8.00 price objective on the stock. Needham & Company LLC's price target points to a potential upside of 22.51% from the stock's previous close.

Separately, Jefferies Financial Group lifted their price objective on shares of CS Disco from $5.50 to $6.00 and gave the company a "hold" rating in a research note on Tuesday, October 29th.

CS Disco Trading Up 8.7 %

NYSE:LAW traded up $0.52 during mid-day trading on Monday, hitting $6.53. The stock had a trading volume of 215,690 shares, compared to its average volume of 207,627. The company has a 50 day simple moving average of $5.88 and a 200-day simple moving average of $5.74. The stock has a market capitalization of $391.21 million, a price-to-earnings ratio of -10.02 and a beta of 2.04. CS Disco has a 52 week low of $4.71 and a 52 week high of $8.80.

CS Disco (NYSE:LAW - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $36.27 million during the quarter, compared to the consensus estimate of $36.33 million. CS Disco had a negative return on equity of 19.20% and a negative net margin of 25.36%. The business's quarterly revenue 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. As a group, equities research analysts anticipate that CS Disco will post -0.69 earnings per share for the current year.

Insider Buying and Selling at CS Disco

In other news, CFO Michael Lafair sold 12,042 shares of the business's stock in a transaction 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 owns 781,060 shares of the company's stock, valued at approximately $4,217,724. The trade was a 1.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of CS Disco by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company's stock worth $16,514,000 after acquiring an additional 82,549 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of CS Disco by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company's stock valued at $10,710,000 after purchasing an additional 34,351 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in CS Disco by 9.2% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 954,328 shares of the company's stock worth $5,611,000 after buying an additional 80,496 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings 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 valued at $3,972,000 after acquiring an additional 170,496 shares in the last quarter. Finally, State Street Corp increased its stake in shares of CS Disco by 0.4% in the third quarter. State Street Corp now owns 507,626 shares of the company's stock worth $2,985,000 after acquiring an additional 1,995 shares during the last quarter. 58.05% of the stock is owned by institutional investors and hedge funds.

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.