CS Disco (NYSE:LAW) Given Buy Rating at Needham & Company LLC

CS Disco (NYSE:LAW)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $8.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 59.84% from the stock’s current price.

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

CS Disco Price Performance

NYSE:LAW opened at $5.01 on Friday. The firm has a market capitalization of $299.85 million, a P/E ratio of -8.34 and a beta of 2.06. CS Disco has a 1-year low of $4.67 and a 1-year high of $8.57. The company’s fifty day moving average price is $5.14 and its 200-day moving average price is $5.53.

CS Disco (NYSE:LAW) last released its quarterly earnings data on Thursday, February 20th. The company reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.05). CS Disco had a negative return on equity of 19.20% and a negative net margin of 25.36%. Equities analysts anticipate that CS Disco will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other CS Disco news, CFO Michael Lafair sold 13,146 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $5.19, for a total transaction of $68,227.74. Following the transaction, the chief financial officer now directly owns 865,793 shares of the company’s stock, valued at $4,493,465.67. This trade represents a 1.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 15.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CS Disco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp purchased a new position in CS Disco during the fourth quarter valued at $103,000. Two Sigma Investments LP purchased a new position in CS Disco during the fourth quarter valued at $55,000. Two Sigma Advisers LP purchased a new position in CS Disco during the fourth quarter valued at $86,000. Occudo Quantitative Strategies LP purchased a new position in CS Disco during the fourth quarter valued at $88,000. Finally, Deutsche Bank AG lifted its holdings in CS Disco by 61.3% during the fourth quarter. Deutsche Bank AG now owns 22,614 shares of the company’s stock valued at $113,000 after purchasing an additional 8,590 shares in the last quarter. 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.