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

Needham & Company LLC reissued their buy rating on shares of CS Disco (NYSE:LAW) in a research report released on Friday morning,Benzinga reports. They currently have a $8.00 price objective on the stock.

Separately, Jefferies Financial Group dropped their price objective on shares of CS Disco from $6.00 to $5.50 and set a “hold” rating on the stock in a research note on Monday, January 6th.

CS Disco Stock Performance

Shares of NYSE:LAW opened at $5.24 on Friday. The firm has a market capitalization of $313.93 million, a P/E ratio of -5.70 and a beta of 2.06. The stock has a 50 day moving average price of $5.13 and a 200-day moving average price of $5.53. CS Disco has a 52-week low of $4.67 and a 52-week high of $8.57.

CS Disco (NYSE:LAW) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). CS Disco had a negative return on equity of 22.30% and a negative net margin of 38.51%. The firm had revenue of $37.00 million during the quarter, compared to the consensus estimate of $36.03 million. On average, equities analysts forecast that CS Disco will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling at CS Disco

In other news, CFO Michael Lafair sold 13,146 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $5.19, for a total transaction of $68,227.74. Following the completion of the transaction, the chief financial officer now directly owns 865,793 shares in the company, valued at $4,493,465.67. This trade represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.60% of the stock is owned by company insiders.

Institutional Trading of CS Disco

Several institutional investors have recently bought and sold shares of LAW. Pilgrim Partners Asia Pte Ltd purchased a new position in CS Disco in the fourth quarter worth about $43,000. R Squared Ltd purchased a new position in CS Disco in the 4th quarter worth approximately $47,000. Virtu Financial LLC bought a new position in CS Disco in the 4th quarter valued at approximately $54,000. Meeder Asset Management Inc. boosted its stake in CS Disco by 50.7% during the 4th quarter. Meeder Asset Management Inc. now owns 10,847 shares of the company’s stock valued at $54,000 after purchasing an additional 3,650 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new stake in CS Disco during the 4th quarter valued at $55,000. 58.05% of the stock is owned by hedge funds and other 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.