Shares of CS Disco, Inc. (NYSE:LAW – Get Rating) were down 6.6% on Monday after Stifel Nicolaus lowered their price target on the stock from $30.00 to $20.00. The company traded as low as $9.67 and last traded at $9.67. Approximately 2,276 shares were traded during trading, a decline of 100% from the average daily volume of 480,154 shares. The stock had previously closed at $10.35.
Other equities analysts also recently issued research reports about the company. Loop Capital downgraded CS Disco from a “buy” rating to a “hold” rating and decreased their target price for the company from $32.00 to $10.00 in a report on Tuesday, September 27th. Canaccord Genuity Group cut CS Disco from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Cowen cut CS Disco from an “outperform” rating to a “market perform” rating in a research note on Friday, August 12th. Jefferies Financial Group reduced their price target on CS Disco from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Monday, October 31st. Finally, Canaccord Genuity Group cut CS Disco from a “buy” rating to a “hold” rating and set a $23.00 price target on the stock. in a research note on Friday, August 12th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.92.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Qube Research & Technologies Ltd bought a new position in shares of CS Disco in the first quarter worth about $279,000. Jeneq Management LP bought a new position in shares of CS Disco in the first quarter worth about $431,000. GSA Capital Partners LLP purchased a new stake in shares of CS Disco during the first quarter worth about $566,000. Capricorn Investment Group LLC purchased a new stake in shares of CS Disco during the second quarter worth about $52,000. Finally, FourThought Financial LLC grew its position in shares of CS Disco by 99.7% during the first quarter. FourThought Financial LLC now owns 2,724 shares of the company’s stock worth $93,000 after purchasing an additional 1,360 shares in the last quarter. Institutional investors own 61.27% of the company’s stock.
CS Disco Stock Performance
The firm has a 50-day moving average of $10.73 and a 200-day moving average of $18.04.
CS Disco (NYSE:LAW – Get Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.33) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.33). CS Disco had a negative return on equity of 23.03% and a negative net margin of 44.84%. The firm had revenue of $33.71 million during the quarter, compared to analysts’ expectations of $33.40 million. During the same quarter last year, the business posted ($0.23) earnings per share. The firm’s revenue was up 14.1% on a year-over-year basis. As a group, analysts forecast that CS Disco, Inc. will post -1.27 EPS for the current fiscal 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.