CS Disco (NYSE:LAW) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of CS Disco (NYSE:LAW) from a neutral rating to an underweight rating in a research note released on Tuesday morning, Marketbeat.com reports. They currently have $5.00 target price on the stock, down from their previous target price of $8.00.

Separately, Needham & Company LLC cut their price objective on shares of CS Disco from $15.00 to $11.00 and set a buy rating on the stock in a research report on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, CS Disco has a consensus rating of Hold and an average target price of $9.31.

CS Disco Stock Down 2.1 %

Shares of LAW stock opened at $5.47 on Tuesday. The company’s fifty day simple moving average is $6.39 and its 200-day simple moving average is $7.26. The firm has a market cap of $328.09 million, a PE ratio of -10.13 and a beta of 2.09. CS Disco has a 12 month low of $4.92 and a 12 month high of $10.77.

CS Disco (NYSE:LAW) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.05). The business had revenue of $35.60 million during the quarter, compared to the consensus estimate of $35.52 million. CS Disco had a negative return on equity of 15.04% and a negative net margin of 23.03%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.32) EPS. On average, equities analysts predict that CS Disco will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of CS Disco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in CS Disco during the fourth quarter worth $27,000. Tower Research Capital LLC TRC raised its position in CS Disco by 42.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,020 shares of the company’s stock worth $46,000 after acquiring an additional 1,802 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in CS Disco during the first quarter worth $52,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CS Disco in the first quarter valued at $83,000. Finally, SG Americas Securities LLC increased its holdings in shares of CS Disco by 26.5% in the fourth quarter. SG Americas Securities LLC now owns 12,788 shares of the company’s stock valued at $97,000 after purchasing an additional 2,681 shares during the last quarter. 58.05% of the stock is owned by institutional investors.

CS Disco Company Profile

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.