CS Disco, Inc. (NYSE:LAW – Get Rating)’s stock price reached a new 52-week low on Friday after Canaccord Genuity Group downgraded the stock from a buy rating to a hold rating. The company traded as low as $13.80 and last traded at $13.81, with a volume of 50853 shares traded. The stock had previously closed at $28.96.
Several other equities research analysts have also issued reports on the stock. Cowen lowered shares of CS Disco from an “outperform” rating to a “market perform” rating in a research report on Friday. Citigroup dropped their price objective on shares of CS Disco to $33.00 and set a “na” rating for the company in a research report on Monday, May 16th. Piper Sandler dropped their price objective on shares of CS Disco from $28.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday. Stifel Nicolaus dropped their price objective on shares of CS Disco from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Friday. Finally, Canaccord Genuity Group lowered shares of CS Disco from a “buy” rating to a “hold” rating and set a $23.00 price objective for the company. in a research report on Friday. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.62.
Insider Transactions at CS Disco
In other news, CFO Michael Lafair sold 1,640 shares of the firm’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $24.15, for a total value of $39,606.00. Following the transaction, the chief financial officer now directly owns 391,403 shares in the company, valued at approximately $9,452,382.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Institutional Trading of CS Disco
Hedge funds have recently bought and sold shares of the company. Bard Financial Services Inc. increased its stake in CS Disco by 0.7% during the 1st quarter. Bard Financial Services Inc. now owns 45,400 shares of the company’s stock valued at $1,542,000 after buying an additional 325 shares during the period. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of CS Disco by 65.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,244 shares of the company’s stock worth $45,000 after purchasing an additional 490 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of CS Disco by 104.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 1,212 shares of the company’s stock worth $41,000 after purchasing an additional 619 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of CS Disco in the 1st quarter worth approximately $33,000. Finally, Dupont Capital Management Corp grew its stake in shares of CS Disco by 28.9% in the 1st quarter. Dupont Capital Management Corp now owns 4,772 shares of the company’s stock worth $162,000 after purchasing an additional 1,069 shares during the last quarter. 79.42% of the stock is currently owned by institutional investors.
CS Disco Stock Performance
The company’s 50 day moving average price is $22.33 and its 200-day moving average price is $28.05. The company has a market cap of $791.51 million and a price-to-earnings ratio of -18.50.
CS Disco (NYSE:LAW – Get Rating) last announced its quarterly earnings data on Thursday, August 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.10. The company had revenue of $33.71 million for the quarter, compared to analysts’ expectations of $33.40 million. CS Disco had a negative net margin of 26.05% and a negative return on equity of 18.88%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) EPS. As a group, sell-side analysts forecast that CS Disco, Inc. will post -1.08 earnings per share for the current year.
CS Disco Company Profile
CS Disco, Inc, a legal technology company, provides cloud-native and artificial intelligence-powered legal solutions for ediscovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments. The company offers DISCO Ediscovery, a solution that automates 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.
