Bank of America downgraded shares of CS Disco (NYSE:LAW) from a neutral rating to an underperform rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports. They currently have $5.00 price objective on the stock, down from their prior price objective of $12.00.
Several other research analysts have also recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of CS Disco from $12.00 to $11.00 and set a hold rating for the company in a research report on Monday, October 31st. Moffett Nathanson initiated coverage on shares of CS Disco in a research report on Thursday, September 22nd. They issued an outperform rating and a $20.00 price objective for the company. Cowen dropped their price objective on shares of CS Disco to $12.00 in a research report on Wednesday, November 16th. Loop Capital cut shares of CS Disco from a buy rating to a hold rating and dropped their price objective for the stock from $32.00 to $10.00 in a research report on Tuesday, September 27th. Finally, Stifel Nicolaus dropped their target price on shares of CS Disco from $30.00 to $20.00 in a research report on Friday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of Hold and an average target price of $19.92.
CS Disco Price Performance
Shares of LAW opened at $6.19 on Wednesday. The company has a market capitalization of $365.45 million, a P/E ratio of -5.90 and a beta of 2.04. CS Disco has a one year low of $5.68 and a one year high of $40.73. The business's 50 day simple moving average is $7.79 and its 200-day simple moving average is $13.53.
CS Disco (NYSE:LAW) last announced its earnings results on Thursday, November 10th. The company reported ($0.33) EPS for the quarter, topping the consensus estimate of ($0.37) by $0.04. The business had revenue of $34.48 million for the quarter, compared to the consensus estimate of $33.04 million. CS Disco had a negative return on equity of 23.58% and a negative net margin of 44.84%. On average, sell-side analysts anticipate that CS Disco will post -1.26 EPS for the current fiscal year.
Institutional Trading of CS Disco
A number of large investors have recently made changes to their positions in LAW. Ameritas Investment Partners Inc. boosted its stake in 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 period. Bard Financial Services Inc. boosted its stake in CS Disco by 1.9% in the 2nd quarter. Bard Financial Services Inc. now owns 46,275 shares of the company's stock worth $835,000 after purchasing an additional 875 shares during the period. Quantbot Technologies LP boosted its stake in CS Disco by 96.5% in the 2nd quarter. Quantbot Technologies LP now owns 1,934 shares of the company's stock worth $34,000 after purchasing an additional 950 shares during the period. Point72 Hong Kong Ltd acquired a new position in CS Disco in the 1st quarter worth $39,000. Finally, Capricorn Investment Group LLC acquired a new position in CS Disco in the 2nd quarter worth $52,000. Institutional investors own 58.18% of the company's stock.
About CS Disco
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.