CS Disco, Inc. (NYSE:LAW) Receives $11.00 Average Price Target from Analysts

Shares of CS Disco, Inc. (NYSE:LAW) have been given an average recommendation of “Hold” by the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $10.31.

A number of equities research analysts have commented on LAW shares. Piper Sandler raised their target price on shares of CS Disco from $6.50 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. initiated coverage on shares of CS Disco in a report on Monday. They set a “neutral” rating and a $9.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of CS Disco in a report on Friday, March 15th.

Insider Activity at CS Disco

In related news, CFO Michael Lafair sold 8,614 shares of the firm’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total value of $58,747.48. Following the completion of the transaction, the chief financial officer now directly owns 826,345 shares of the company’s stock, valued at $5,635,672.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 22.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LAW. BlackRock Inc. lifted its position in CS Disco by 1.9% in the third quarter. BlackRock Inc. now owns 2,620,473 shares of the company’s stock worth $26,204,000 after buying an additional 48,558 shares during the last quarter. Vanguard Group Inc. lifted its position in CS Disco by 10.8% in the third quarter. Vanguard Group Inc. now owns 2,243,548 shares of the company’s stock worth $22,435,000 after buying an additional 218,080 shares during the last quarter. Wasatch Advisors Inc. lifted its position in shares of CS Disco by 6.7% during the first quarter. Wasatch Advisors Inc. now owns 2,160,590 shares of the company’s stock worth $73,395,000 after purchasing an additional 134,967 shares during the last quarter. Norges Bank bought a new stake in shares of CS Disco during the fourth quarter worth $13,467,000. Finally, Bank of New York Mellon Corp lifted its position in shares of CS Disco by 81.5% during the third quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company’s stock worth $7,869,000 after purchasing an additional 353,335 shares during the last quarter. 58.05% of the stock is owned by hedge funds and other institutional investors.

CS Disco Stock Performance

LAW opened at $7.77 on Friday. The company’s 50-day simple moving average is $7.65 and its two-hundred day simple moving average is $6.99. CS Disco has a 52-week low of $5.07 and a 52-week high of $10.77. The stock has a market capitalization of $474.44 million, a P/E ratio of -10.94 and a beta of 2.21.

CS Disco (NYSE:LAW) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.11. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. The firm had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $34.94 million. Research analysts forecast that CS Disco will post -0.78 EPS for the current fiscal year.

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.