Jefferies Financial Group Cuts CS Disco (NYSE:LAW) Price Target to $5.50

CS Disco (NYSE:LAW) had its price target lowered by research analysts at Jefferies Financial Group from $6.00 to $5.50 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 10.89% from the company’s previous close.

Separately, Needham & Company LLC restated a “buy” rating and issued a $8.00 price target on shares of CS Disco in a research note on Monday, December 9th.

CS Disco Trading Up 0.2 %

LAW traded up $0.01 during mid-day trading on Monday, hitting $4.96. 81,056 shares of the stock were exchanged, compared to its average volume of 76,841. The firm’s fifty day moving average is $5.70 and its two-hundred day moving average is $5.67. CS Disco has a 1-year low of $4.71 and a 1-year high of $8.80. The company has a market cap of $297.15 million, a PE ratio of -8.27 and a beta of 2.06.

CS Disco (NYSE:LAW) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The business had revenue of $36.27 million for the quarter, compared to analyst estimates of $36.33 million. CS Disco had a negative return on equity of 19.20% and a negative net margin of 25.36%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) EPS. As a group, research analysts anticipate that CS Disco will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Michael Lafair sold 12,042 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $5.40, for a total value of $65,026.80. Following the sale, the chief financial officer now directly owns 781,060 shares in the company, valued at approximately $4,217,724. This trade represents a 1.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.60% of the stock is owned by insiders.

Institutional Trading of CS Disco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. purchased a new position in shares of CS Disco in the 2nd quarter valued at about $37,000. Bleakley Financial Group LLC purchased a new position in CS Disco in the third quarter valued at approximately $67,000. The Manufacturers Life Insurance Company raised its holdings in CS Disco by 27.0% during the second quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock worth $80,000 after purchasing an additional 2,871 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of CS Disco during the 3rd quarter worth approximately $158,000. Finally, American Century Companies Inc. boosted its holdings in shares of CS Disco by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 32,180 shares of the company’s stock valued at $192,000 after buying an additional 4,632 shares in the last quarter. 58.05% of the stock is currently owned by institutional investors and hedge funds.

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.