Jefferies Financial Group Has Lowered Expectations for CS Disco (NYSE:LAW) Stock Price

CS Disco (NYSE:LAW) had its price target reduced by stock analysts at Jefferies Financial Group from $6.00 to $5.50 in a research report issued on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. Jefferies Financial Group’s target price indicates a potential upside of 6.80% from the stock’s current price.

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

CS Disco Stock Up 5.1 %

Shares of NYSE LAW opened at $5.15 on Monday. CS Disco has a 12-month low of $4.71 and a 12-month high of $8.80. The firm’s 50-day simple moving average is $5.66 and its 200 day simple moving average is $5.66. The company has a market cap of $308.53 million, a price-to-earnings ratio of -8.58 and a beta of 2.06.

CS Disco (NYSE:LAW) last announced its earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The company 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%. CS Disco’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.02) earnings per share. On average, equities analysts expect 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 stock was sold at an average price of $5.40, for a total value of $65,026.80. Following the transaction, the chief financial officer now directly owns 781,060 shares in the company, valued at $4,217,724. This trade represents a 1.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 15.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CS Disco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp grew its position in shares of CS Disco by 0.4% during the 3rd quarter. State Street Corp now owns 507,626 shares of the company’s stock worth $2,985,000 after buying an additional 1,995 shares during the period. The Manufacturers Life Insurance Company boosted its stake in CS Disco by 27.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,498 shares of the company’s stock worth $80,000 after acquiring an additional 2,871 shares during the last quarter. Rhumbline Advisers grew its holdings in CS Disco by 8.4% during the second quarter. Rhumbline Advisers now owns 38,105 shares of the company’s stock valued at $227,000 after purchasing an additional 2,946 shares during the period. American Century Companies Inc. increased its stake in CS Disco by 16.8% in the second quarter. American Century Companies Inc. now owns 32,180 shares of the company’s stock valued at $192,000 after purchasing an additional 4,632 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in CS Disco in the second quarter valued at approximately $37,000. Institutional investors own 58.05% of the company’s stock.

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.