CS Disco (NYSE:LAW) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of CS Disco (NYSE:LAW) from a neutral rating to an underweight rating in a research report report published on Tuesday morning, MarketBeat reports. They currently have $5.00 target price on the stock, down from their previous target price of $8.00.

Separately, Needham & Company LLC dropped their price objective on CS Disco from $15.00 to $11.00 and set a buy rating for the company in a report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, CS Disco has a consensus rating of Hold and a consensus price target of $9.31.

CS Disco Stock Performance

NYSE LAW opened at $5.47 on Tuesday. The business’s 50 day moving average price is $6.39 and its 200-day moving average price is $7.26. CS Disco has a fifty-two week low of $4.92 and a fifty-two week high of $10.77. The company has a market cap of $328.09 million, a P/E ratio of -10.13 and a beta of 2.09.

CS Disco (NYSE:LAW) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). CS Disco had a negative net margin of 23.03% and a negative return on equity of 15.04%. The business had revenue of $35.60 million for the quarter, compared to analysts’ expectations of $35.52 million. During the same quarter in the previous year, the firm earned ($0.32) EPS. CS Disco’s revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts predict that CS Disco will post -0.69 EPS for the current year.

Institutional Investors Weigh In On CS Disco

Hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC purchased a new stake in shares of CS Disco in the 4th quarter worth $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of CS Disco by 42.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 6,020 shares of the company’s stock worth $46,000 after buying an additional 1,802 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of CS Disco in the 1st quarter worth $52,000. State Board of Administration of Florida Retirement System purchased a new stake in shares of CS Disco in the 1st quarter worth $83,000. Finally, Worth Venture Partners LLC purchased a new stake in shares of CS Disco in the 3rd quarter worth $89,000. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

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.