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

CS Disco (NYSE:LAWFree Report) had its price objective lowered by Jefferies Financial Group from $6.00 to $5.50 in a report published on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

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

Read Our Latest Stock Analysis on CS Disco

CS Disco Stock Down 4.7 %

LAW opened at $4.92 on Monday. The company has a 50-day simple moving average of $5.64 and a 200 day simple moving average of $5.66. The stock has a market capitalization of $294.75 million, a price-to-earnings ratio of -8.20 and a beta of 2.06. CS Disco has a twelve month low of $4.71 and a twelve month high of $8.80.

CS Disco (NYSE:LAWGet Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $36.33 million. During the same quarter last year, the firm posted ($0.02) earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts anticipate that CS Disco will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, CFO Michael Lafair sold 12,042 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $5.40, for a total transaction 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 represents a 1.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On CS Disco

Several institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in shares of CS Disco by 104.1% in the third quarter. JPMorgan Chase & Co. now owns 198,746 shares of the company’s stock worth $1,169,000 after buying an additional 101,391 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of CS Disco by 2.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,790,930 shares of the company’s stock worth $10,710,000 after buying an additional 34,351 shares during the last quarter. Barclays PLC raised its position in shares of CS Disco by 291.1% during the 3rd quarter. Barclays PLC now owns 40,919 shares of the company’s stock valued at $241,000 after buying an additional 30,456 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of CS Disco by 19.1% during the 3rd quarter. M&T Bank Corp now owns 102,898 shares of the company’s stock worth $606,000 after acquiring an additional 16,535 shares during the last quarter. Finally, Jane Street Group LLC grew its position in CS Disco by 44.2% in the third quarter. Jane Street Group LLC now owns 45,339 shares of the company’s stock worth $267,000 after acquiring an additional 13,894 shares in the last quarter. Hedge funds and other institutional investors own 58.05% of the company’s stock.

CS Disco Company Profile

(Get Free Report)

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.

Further Reading

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