CS Disco’s (LAW) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CS Disco (NYSE:LAW) in a report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $8.00 target price on the stock.

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

CS Disco Price Performance

Shares of CS Disco stock opened at $5.93 on Thursday. The stock has a market cap of $355.26 million, a price-to-earnings ratio of -9.88 and a beta of 2.07. CS Disco has a 1 year low of $4.71 and a 1 year high of $8.80. The firm’s 50-day moving average is $5.81 and its 200 day moving average is $5.95.

CS Disco (NYSE:LAW) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The firm had revenue of $36.27 million for the quarter, compared to analysts’ expectations of $36.33 million. CS Disco had a negative net margin of 25.36% and a negative return on equity of 19.20%. During the same quarter in the previous year, the company earned ($0.02) EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, equities analysts expect that CS Disco will post -0.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Scott A. Hill bought 23,554 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $5.39 per share, for a total transaction of $126,956.06. Following the purchase, the director now owns 187,615 shares in the company, valued at approximately $1,011,244.85. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 15.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CS Disco

A number of large investors have recently made changes to their positions in LAW. nVerses Capital LLC bought a new position in shares of CS Disco in the 2nd quarter worth approximately $36,000. Meeder Asset Management Inc. bought a new position in CS Disco in the second quarter worth approximately $37,000. Allspring Global Investments Holdings LLC purchased a new position in shares of CS Disco during the 1st quarter worth $52,000. State Board of Administration of Florida Retirement System bought a new stake in shares of CS Disco during the 1st quarter valued at $83,000. Finally, Bleakley Financial Group LLC purchased a new stake in shares of CS Disco in the 3rd quarter worth $67,000. 58.05% of the stock is currently owned by 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.