Jefferies Financial Group Cuts CS Disco (NYSE:LAW) Price Target to $5.50

CS Disco (NYSE:LAW) had its target price cut by Jefferies Financial Group from $6.00 to $5.50 in a research report report published on Monday,Benzinga reports. They currently have a hold rating on the stock.

Separately, Needham & Company LLC reiterated a “buy” rating and issued a $8.00 target price on shares of CS Disco in a research report on Monday, December 9th.

CS Disco Trading Down 1.0 %

LAW opened at $4.90 on Monday. The business’s 50 day moving average is $5.68 and its 200-day moving average is $5.67. The stock has a market cap of $293.55 million, a PE ratio of -8.17 and a beta of 2.06. CS Disco has a twelve month low of $4.71 and a twelve month high of $8.80.

CS Disco (NYSE:LAW) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.06). CS Disco had a negative net margin of 25.36% and a negative return on equity of 19.20%. The business had revenue of $36.27 million for the quarter, compared to the consensus estimate of $36.33 million. During the same period in the previous year, the firm earned ($0.02) EPS. The firm’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that CS Disco will post -0.69 EPS for the current year.

Insiders Place Their Bets

In other CS Disco news, CFO Michael Lafair sold 12,042 shares of CS Disco stock in a transaction that occurred on 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 in the company, valued at approximately $4,217,724. The trade was a 1.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On CS Disco

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position 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 period. JPMorgan Chase & Co. increased its stake in CS Disco by 104.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company’s stock worth $1,169,000 after purchasing an additional 101,391 shares in the last quarter. Renaissance Technologies LLC increased its stake in CS Disco by 188.9% in the 2nd quarter. Renaissance Technologies LLC now owns 145,600 shares of the company’s stock worth $868,000 after purchasing an additional 95,200 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in CS Disco by 9.2% during 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 during the period. Finally, Franklin Resources Inc. lifted its stake in CS Disco by 2.0% during the third quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company’s stock valued at $10,710,000 after buying an additional 34,351 shares in the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.

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.