Brokerages Set CS Disco, Inc. (NYSE:LAW) PT at $10.31

Shares of CS Disco, Inc. (NYSE:LAW) have been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $10.31.

A number of equities analysts have issued reports on LAW shares. JPMorgan Chase & Co. started coverage on CS Disco in a research report on Monday, March 25th. They issued a “neutral” rating and a $9.00 target price on the stock. Piper Sandler upped their target price on CS Disco from $6.50 to $7.50 and gave the company a “neutral” rating in a research report on Friday, February 23rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 target price on shares of CS Disco in a research report on Wednesday, April 10th.

Insider Activity

In other news, CFO Michael Lafair sold 8,614 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $6.82, for a total value of $58,747.48. Following the completion of the sale, the chief financial officer now directly owns 826,345 shares in the company, valued at approximately $5,635,672.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 22.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new position in CS Disco during the 1st quarter worth $33,000. Point72 Hong Kong Ltd bought a new stake in shares of CS Disco in the 1st quarter worth $39,000. Ameritas Investment Partners Inc. raised its stake in shares of CS Disco by 104.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,212 shares of the company’s stock worth $41,000 after buying an additional 619 shares in the last quarter. Ensign Peak Advisors Inc bought a new stake in shares of CS Disco in the 3rd quarter worth $32,000. Finally, Nisa Investment Advisors LLC bought a new stake in shares of CS Disco in the 4th quarter worth $27,000. 58.05% of the stock is currently owned by institutional investors.

CS Disco Stock Performance

CS Disco stock opened at $7.47 on Wednesday. The stock’s 50 day moving average price is $7.56 and its 200 day moving average price is $7.11. The firm has a market capitalization of $456.12 million, a PE ratio of -10.52 and a beta of 2.26. CS Disco has a one year low of $5.07 and a one year high of $10.77.

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