JPMorgan Chase & Co. Begins Coverage on CS Disco (NYSE:LAW)

JPMorgan Chase & Co. initiated coverage on shares of CS Disco (NYSE:LAW) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $9.00 price target on the stock.

Several other brokerages have also recently commented on LAW. Needham & Company LLC reissued a buy rating and issued a $15.00 price target on shares of CS Disco in a research note on Friday, March 15th. Piper Sandler upped their price target on CS Disco from $6.50 to $7.50 and gave the stock a neutral rating in a report on Friday, February 23rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $10.31.

CS Disco Stock Performance

Shares of LAW opened at $7.77 on Monday. The company has a market cap of $474.44 million, a price-to-earnings ratio of -10.94 and a beta of 2.21. The firm has a fifty day moving average of $7.65 and a 200-day moving average of $6.99. CS Disco has a 1 year low of $5.07 and a 1 year high of $10.77.

CS Disco (NYSE:LAW) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.11. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. The firm had revenue of $35.74 million for the quarter, compared to analysts’ expectations of $34.94 million. Analysts predict that CS Disco will post -0.78 EPS for the current year.

Insider Activity at CS Disco

In related news, CFO Michael Lafair sold 8,614 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $6.82, for a total value of $58,747.48. Following the completion of the transaction, the chief financial officer now directly owns 826,345 shares in the company, valued at $5,635,672.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 22.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of CS Disco by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 1,948,708 shares of the company’s stock worth $14,791,000 after purchasing an additional 35,502 shares during the last quarter. GSA Capital Partners LLP grew its holdings in shares of CS Disco by 177.5% during the fourth quarter. GSA Capital Partners LLP now owns 195,467 shares of the company’s stock worth $1,484,000 after purchasing an additional 125,018 shares during the last quarter. Barclays PLC grew its holdings in shares of CS Disco by 333.3% during the fourth quarter. Barclays PLC now owns 35,746 shares of the company’s stock worth $271,000 after purchasing an additional 27,496 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of CS Disco by 14.3% during the fourth quarter. Nuveen Asset Management LLC now owns 70,049 shares of the company’s stock worth $532,000 after purchasing an additional 8,757 shares during the last quarter. Finally, Berylson Capital Partners LLC grew its holdings in shares of CS Disco by 424.2% during the fourth quarter. Berylson Capital Partners LLC now owns 282,569 shares of the company’s stock worth $2,145,000 after purchasing an additional 228,669 shares during the last quarter. 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.