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

CS Disco (NYSE:LAW)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Friday,Benzinga reports. They presently have a $8.00 price objective on the stock. Needham & Company LLC’s price objective points to a potential upside of 52.67% from the company’s current price.

Separately, Jefferies Financial Group lowered their target price 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 Stock Up 4.8 %

LAW opened at $5.24 on Friday. The firm has a market capitalization of $313.93 million, a P/E ratio of -5.70 and a beta of 2.06. The stock’s 50 day moving average price is $5.13 and its two-hundred day moving average price is $5.53. CS Disco has a 12-month low of $4.67 and a 12-month high of $8.57.

CS Disco (NYSE:LAW) last released its earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). The business had revenue of $37.00 million during the quarter, compared to analyst estimates of $36.03 million. CS Disco had a negative net margin of 38.51% and a negative return on equity of 22.30%. As a group, analysts anticipate that CS Disco will post -0.64 earnings per share for the current year.

Insiders Place Their Bets

In other CS Disco news, CFO Michael Lafair sold 13,146 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total value of $68,227.74. Following the completion of the sale, the chief financial officer now owns 865,793 shares in the company, valued at approximately $4,493,465.67. This trade represents a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.60% of the company’s stock.

Institutional Trading of CS Disco

A number of hedge funds have recently modified their holdings of LAW. Topline Capital Management LLC bought a new stake in shares of CS Disco in the 4th quarter worth approximately $9,530,000. Norges Bank bought a new position in shares of CS Disco during the 4th quarter worth approximately $8,854,000. Formula Growth Ltd. lifted its position in shares of CS Disco by 23.0% during the 4th quarter. Formula Growth Ltd. now owns 750,000 shares of the company’s stock worth $3,742,000 after buying an additional 140,000 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of CS Disco by 457.4% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 149,531 shares of the company’s stock worth $746,000 after buying an additional 122,703 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in shares of CS Disco by 104.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company’s stock worth $1,169,000 after buying an additional 101,391 shares during the period. Institutional investors 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.