CS Disco (NYSE:LAW) Shares Up 1.3% – Should You Buy?

CS Disco, Inc. (NYSE:LAW)’s stock price shot up 1.3% during trading on Thursday . The stock traded as high as $4.06 and last traded at $3.93. 179,931 shares changed hands during trading, a decline of 63% from the average session volume of 484,670 shares. The stock had previously closed at $3.88.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of CS Disco in a research note on Thursday, February 26th. Wall Street Zen lowered shares of CS Disco from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Weiss Ratings raised shares of CS Disco from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 28th. Finally, Canaccord Genuity Group reduced their price objective on shares of CS Disco from $9.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, CS Disco presently has a consensus rating of “Hold” and an average price target of $8.00.

CS Disco Trading Down 3.7%

The firm’s 50 day moving average is $3.93 and its two-hundred day moving average is $5.27. The firm has a market cap of $242.09 million, a P/E ratio of -5.55 and a beta of 1.91.

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

Insiders Place Their Bets

In related news, CEO Eric Friedrichsen purchased 9,000 shares of the business’s stock in a transaction on Friday, May 8th. The shares were purchased at an average price of $3.97 per share, with a total value of $35,730.00. Following the completion of the purchase, the chief executive officer owned 1,517,172 shares in the company, valued at $6,023,172.84. This represents a 0.60% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 16.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC lifted its stake in CS Disco by 87.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,968 shares of the company’s stock valued at $44,000 after buying an additional 4,639 shares in the last quarter. Abel Hall LLC bought a new position in CS Disco in the first quarter valued at approximately $57,000. Algert Global LLC bought a new position in CS Disco in the third quarter valued at approximately $70,000. Occudo Quantitative Strategies LP bought a new position in CS Disco in the second quarter valued at approximately $75,000. Finally, Public Employees Retirement System of Ohio lifted its stake in CS Disco by 151.6% in the first quarter. Public Employees Retirement System of Ohio now owns 22,735 shares of the company’s stock valued at $87,000 after buying an additional 13,700 shares in the last quarter. Institutional investors own 58.05% of the company’s stock.

CS Disco Company Profile

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.