CS Disco (NYSE:LAW) Given Buy Rating at Needham & Company LLC

CS Disco (NYSE:LAW)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Friday,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 59.84% from the company’s current price.

Separately, Jefferies Financial Group cut their price objective on shares of CS Disco from $6.00 to $5.50 and set a “hold” rating for the company in a research report on Monday, January 6th.

CS Disco Trading Down 3.0 %

NYSE:LAW opened at $5.01 on Friday. The company’s 50-day moving average price is $5.14 and its 200-day moving average price is $5.53. The company has a market cap of $299.85 million, a P/E ratio of -8.34 and a beta of 2.06. CS Disco has a twelve month low of $4.67 and a twelve month high of $8.57.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.05). CS Disco had a negative return on equity of 19.20% and a negative net margin of 25.36%. On average, analysts expect that CS Disco will post -0.69 earnings per share for the current year.

Insider Buying and Selling at CS Disco

In other CS Disco news, CFO Michael Lafair sold 13,146 shares of CS Disco stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $5.19, for a total transaction of $68,227.74. Following the completion of the sale, the chief financial officer now directly owns 865,793 shares in the company, valued at $4,493,465.67. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Mackenzie Financial Corp acquired a new position in shares of CS Disco in the fourth quarter valued at approximately $103,000. Two Sigma Investments LP acquired a new position in shares of CS Disco in the fourth quarter valued at approximately $55,000. Two Sigma Advisers LP acquired a new position in shares of CS Disco in the fourth quarter valued at approximately $86,000. Occudo Quantitative Strategies LP acquired a new position in shares of CS Disco in the fourth quarter valued at approximately $88,000. Finally, Deutsche Bank AG grew its holdings in shares of CS Disco by 61.3% in the fourth quarter. Deutsche Bank AG now owns 22,614 shares of the company’s stock valued at $113,000 after purchasing an additional 8,590 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.