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

CS Disco (NYSE:LAW) had its price target trimmed by Jefferies Financial Group from $6.00 to $5.50 in a report published on Monday,Benzinga reports. The firm currently has a hold rating on the stock.

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

CS Disco Stock Down 4.7 %

LAW opened at $4.92 on Monday. The stock’s 50 day moving average price is $5.64 and its two-hundred day moving average price is $5.66. The firm has a market capitalization of $294.75 million, a P/E ratio of -8.20 and a beta of 2.06. CS Disco has a 12-month low of $4.71 and a 12-month high of $8.80.

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

Insider Buying and Selling

In other CS Disco news, CFO Michael Lafair sold 12,042 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $5.40, for a total transaction of $65,026.80. Following the completion of the transaction, the chief financial officer now owns 781,060 shares of the company’s stock, valued at $4,217,724. This represents a 1.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On CS Disco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of CS Disco by 2.0% in the third quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company’s stock valued at $10,710,000 after acquiring an additional 34,351 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its stake in shares of CS Disco by 9.2% in the third quarter. ArrowMark Colorado Holdings LLC now owns 954,328 shares of the company’s stock valued at $5,611,000 after buying an additional 80,496 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in CS Disco by 34.4% during the second quarter. Dimensional Fund Advisors LP now owns 666,437 shares of the company’s stock worth $3,972,000 after buying an additional 170,496 shares during the last quarter. State Street Corp lifted its stake in CS Disco by 0.4% in the third quarter. State Street Corp now owns 507,626 shares of the company’s stock valued at $2,985,000 after acquiring an additional 1,995 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CS Disco by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 218,990 shares of the company’s stock valued at $1,288,000 after acquiring an additional 7,551 shares during the period. 58.05% of the stock is currently 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.