JPMorgan Chase & Co. Downgrades CS Disco (NYSE:LAW) to Underweight

CS Disco (NYSE:LAW) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Tuesday, FinViz reports. They currently have a $5.00 target price on the stock, down from their previous target price of $8.00. JPMorgan Chase & Co.‘s price target suggests a potential downside of 14.38% from the stock’s current price.

Separately, Needham & Company LLC reduced their target price on CS Disco from $15.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $9.31.

CS Disco Stock Down 2.0 %

LAW stock opened at $5.84 on Tuesday. The business has a 50 day moving average price of $6.51 and a two-hundred day moving average price of $7.30. The company has a market cap of $350.28 million, a price-to-earnings ratio of -10.81 and a beta of 2.09. CS Disco has a twelve month low of $5.07 and a twelve month high of $10.77.

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

Hedge Funds Weigh In On CS Disco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of CS Disco in the 4th quarter valued at $13,467,000. Berylson Capital Partners LLC increased its stake in shares of CS Disco by 424.2% in the 4th quarter. Berylson Capital Partners LLC now owns 282,569 shares of the company’s stock valued at $2,145,000 after purchasing an additional 228,669 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of CS Disco by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 2,031,257 shares of the company’s stock valued at $16,514,000 after purchasing an additional 82,549 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of CS Disco by 55.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 221,579 shares of the company’s stock valued at $1,682,000 after purchasing an additional 79,208 shares during the last quarter. Finally, Circumference Group LLC bought a new position in shares of CS Disco in the 4th quarter valued at $455,000. 58.05% of the stock is owned by institutional investors and hedge funds.

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.