CS Disco (NYSE:LAW) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of CS Disco (NYSE:LAW) from a buy rating to a hold rating in a research note published on Saturday.

A number of other research analysts have also recently commented on LAW. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of CS Disco in a research note on Thursday, February 26th. Canaccord Genuity Group reduced their target price on CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Weiss Ratings raised CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $8.00.

CS Disco Stock Performance

Shares of LAW stock opened at $4.09 on Friday. CS Disco has a 52-week low of $2.45 and a 52-week high of $9.11. The company has a market capitalization of $262.48 million, a PE ratio of -6.02 and a beta of 1.95. The business’s fifty day moving average is $4.03 and its 200 day moving average is $5.68.

CS Disco (NYSE:LAW) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.02. CS Disco had a negative return on equity of 26.12% and a negative net margin of 26.28%.The company had revenue of $41.88 million for the quarter, compared to the consensus estimate of $40.30 million.

Insider Transactions at CS Disco

In other news, EVP Karen Herckis sold 8,171 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $3.07, for a total value of $25,084.97. Following the completion of the sale, the executive vice president directly owned 132,259 shares in the company, valued at approximately $406,035.13. The trade was a 5.82% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Eric Friedrichsen acquired 15,500 shares of the stock in a transaction dated Friday, February 27th. The stock was acquired at an average price of $2.90 per share, with a total value of $44,950.00. Following the completion of the acquisition, the chief executive officer owned 1,508,172 shares in the company, valued at approximately $4,373,698.80. The trade was a 1.04% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders purchased 1,090,200 shares of company stock worth $3,475,943 and sold 27,711 shares worth $85,073. Insiders own 16.10% of the company’s stock.

Institutional Trading of CS Disco

Several institutional investors have recently added to or reduced their stakes in LAW. Cubist Systematic Strategies LLC purchased a new stake in CS Disco during the first quarter valued at about $216,000. Jane Street Group LLC boosted its position in CS Disco by 51.6% during the first quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock valued at $183,000 after buying an additional 15,187 shares during the period. Acadian Asset Management LLC purchased a new stake in CS Disco during the first quarter valued at about $195,000. XTX Topco Ltd purchased a new stake in CS Disco during the second quarter valued at about $139,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in CS Disco during the second quarter valued at about $75,000. 58.05% of the stock is currently owned by hedge funds and other institutional investors.

About CS Disco

CS Disco, Inc is a provider of cloud-native, artificial intelligence-driven legal applications designed to streamline e-discovery, document review and compliance processes for law firms and corporate legal departments. The Austin, Texas–based company offers a unified platform that automates labor-intensive tasks using machine learning and predictive analytics, enabling legal professionals to process, search and review large volumes of data with greater speed and accuracy.

At the core of CS Disco’s product suite is its flagship e-discovery application, which supports early case assessment, data processing, review analytics and production workflows.