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

CS Disco (NYSE:LAW)‘s stock had its “buy” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $8.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 25.59% from the company’s current price.

Separately, Jefferies Financial Group boosted their price objective on CS Disco from $5.50 to $6.00 and gave the company a “hold” rating in a report on Tuesday, October 29th.

CS Disco Stock Up 5.1 %

Shares of CS Disco stock opened at $6.37 on Thursday. The firm has a market cap of $378.89 million, a P/E ratio of -13.55 and a beta of 2.07. CS Disco has a fifty-two week low of $4.71 and a fifty-two week high of $8.80. The business has a 50-day moving average price of $5.79 and a 200 day moving average price of $5.99.

CS Disco (NYSE:LAW) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.01. The firm had revenue of $36.01 million during the quarter, compared to analyst estimates of $35.52 million. CS Disco had a negative return on equity of 14.18% and a negative net margin of 19.88%. As a group, equities research analysts anticipate that CS Disco will post -0.71 earnings per share for the current year.

Insider Activity

In related news, Director Scott A. Hill bought 23,554 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $5.39 per share, with a total value of $126,956.06. Following the completion of the acquisition, the director now owns 187,615 shares of the company’s stock, valued at $1,011,244.85. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.60% of the company’s stock.

Hedge Funds Weigh In On CS Disco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its holdings in CS Disco by 6.9% in the 1st quarter. California State Teachers Retirement System now owns 26,808 shares of the company’s stock worth $218,000 after buying an additional 1,730 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in CS Disco by 27.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock worth $80,000 after buying an additional 2,871 shares in the last quarter. Rhumbline Advisers lifted its position in CS Disco by 8.4% in the second quarter. Rhumbline Advisers now owns 38,105 shares of the company’s stock worth $227,000 after purchasing an additional 2,946 shares during the period. American Century Companies Inc. lifted its position in CS Disco by 16.8% in the second quarter. American Century Companies Inc. now owns 32,180 shares of the company’s stock worth $192,000 after purchasing an additional 4,632 shares during the period. Finally, nVerses Capital LLC acquired a new stake in CS Disco in the second quarter worth approximately $36,000. 58.05% of the stock is owned by institutional investors.

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.