CS Disco (NYSE:LAW) Downgraded to Underweight at JPMorgan Chase & Co.

CS Disco (NYSE:LAW) was downgraded by JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Tuesday, MarketBeat.com reports. They currently have a $5.00 price objective on the stock, down from their previous price objective of $8.00. JPMorgan Chase & Co.‘s price target suggests a potential downside of 8.42% from the stock’s previous close.

Separately, Needham & Company LLC cut their price target on CS Disco from $15.00 to $11.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.31.

CS Disco Stock Down 2.3 %

LAW stock opened at $5.46 on Tuesday. The business’s fifty day simple moving average is $6.43 and its two-hundred day simple moving average is $7.27. CS Disco has a twelve month low of $4.92 and a twelve month high of $10.77. The firm has a market cap of $327.49 million, a price-to-earnings ratio of -10.11 and a beta of 2.09.

CS Disco (NYSE:LAW) last released its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). CS Disco had a negative return on equity of 15.04% and a negative net margin of 23.03%. The business had revenue of $35.60 million during the quarter, compared to analysts’ expectations of $35.52 million. During the same quarter in the previous year, the business earned ($0.32) EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Research analysts expect that CS Disco will post -0.69 EPS for the current year.

Institutional Investors Weigh In On CS Disco

A number of institutional investors have recently added to or reduced their stakes in LAW. Nisa Investment Advisors LLC bought a new stake in CS Disco during the fourth quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its holdings in CS Disco by 42.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,020 shares of the company’s stock worth $46,000 after acquiring an additional 1,802 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in CS Disco in the first quarter worth about $52,000. State Board of Administration of Florida Retirement System acquired a new stake in CS Disco in the first quarter worth about $83,000. Finally, Worth Venture Partners LLC acquired a new stake in CS Disco in the third quarter worth about $89,000. Institutional investors own 58.05% of the company’s stock.

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.