JPMorgan Chase & Co. Begins Coverage on CS Disco (NYSE:LAW)

JPMorgan Chase & Co. started coverage on shares of CS Disco (NYSE:LAW) in a research note published on Monday, MarketBeat Ratings reports. The firm issued a neutral rating and a $9.00 price objective on the stock.

LAW has been the topic of several other research reports. Needham & Company LLC restated a buy rating and issued a $15.00 price objective on shares of CS Disco in a research note on Friday, March 15th. Piper Sandler lifted their price target on shares of CS Disco from $6.50 to $7.50 and gave the stock a neutral rating in a research note on Friday, February 23rd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $10.31.

CS Disco Trading Up 4.5 %

Shares of CS Disco stock opened at $8.13 on Monday. The company’s fifty day simple moving average is $7.66 and its 200-day simple moving average is $7.00. The company has a market cap of $496.43 million, a price-to-earnings ratio of -11.45 and a beta of 2.21. CS Disco has a 1 year low of $5.07 and a 1 year high of $10.77.

CS Disco (NYSE:LAW) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.11. The business had revenue of $35.74 million for the quarter, compared to the consensus estimate of $34.94 million. CS Disco had a negative net margin of 30.52% and a negative return on equity of 19.09%. As a group, research analysts forecast that CS Disco will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CS Disco news, CFO Michael Lafair sold 8,614 shares of CS Disco stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $6.82, for a total transaction of $58,747.48. Following the sale, the chief financial officer now owns 826,345 shares in the company, valued at $5,635,672.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On CS Disco

Several institutional investors and hedge funds have recently made changes to their positions in LAW. Norges Bank acquired a new stake in shares of CS Disco in the 4th quarter valued at $13,467,000. Bank of New York Mellon Corp boosted its stake in shares of CS Disco by 81.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 786,839 shares of the company’s stock valued at $7,869,000 after purchasing an additional 353,335 shares in the last quarter. BlackRock Inc. boosted its stake in shares of CS Disco by 17.2% in the 1st quarter. BlackRock Inc. now owns 2,266,047 shares of the company’s stock valued at $76,978,000 after purchasing an additional 332,076 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of CS Disco by 20.9% in the 1st quarter. Vanguard Group Inc. now owns 1,496,001 shares of the company’s stock valued at $50,819,000 after purchasing an additional 258,911 shares in the last quarter. Finally, Berylson Capital Partners LLC boosted its stake in shares of CS Disco by 424.2% in the 4th quarter. Berylson Capital Partners LLC now owns 282,569 shares of the company’s stock valued at $2,145,000 after purchasing an additional 228,669 shares in the last quarter. Institutional investors and hedge funds own 58.05% of the company’s stock.

About CS Disco

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.