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

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

Wall Street Analyst Weigh In

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

CS Disco Stock Up 1.3%

The company has a market capitalization of $252.03 million, a P/E ratio of -5.78 and a beta of 1.91. The business has a fifty day moving average price of $3.93 and a 200 day moving average price of $5.28.

CS Disco (NYSE:LAW) last issued its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.02. The company had revenue of $41.88 million for the quarter, compared to analyst estimates of $40.30 million. CS Disco had a negative return on equity of 26.12% and a negative net margin of 26.28%.

Insider Activity

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

Institutional Trading of CS Disco

A number of hedge funds and other institutional investors have recently modified their holdings of LAW. Cubist Systematic Strategies LLC acquired a new stake in shares of CS Disco in the first quarter valued at about $216,000. Jane Street Group LLC increased its position in shares of CS Disco by 51.6% in the first quarter. Jane Street Group LLC now owns 44,628 shares of the company’s stock valued at $183,000 after acquiring an additional 15,187 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of CS Disco in the first quarter valued at about $195,000. XTX Topco Ltd acquired a new stake in shares of CS Disco in the second quarter valued at about $139,000. Finally, Occudo Quantitative Strategies LP acquired a new stake in shares of CS Disco in the second quarter valued at about $75,000. Institutional investors and hedge funds own 58.05% of the company’s stock.

About CS Disco

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.