Brokerages expect CS Disco, Inc. (NYSE: LAW – Get a rating) to announce sales of $33.33 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates of CS Disco’s earnings, with the lowest sales estimate being $32.90 million and the highest estimate being $33.90 million. CS Disco reported sales of $29.55 million in the same quarter last year, which would indicate a positive growth rate of 12.8% year over year. The company is due to announce its next earnings report on Monday, January 1.
According to Zacks, analysts expect CS Disco to report annual sales of $150.73 million for the current fiscal year, with estimates ranging from $148.50 to $152.70 million. For the next fiscal year, analysts expect the company to post sales of $198.96 million, with estimates ranging from $193.80 million to $204.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that track CS Disco.
Disco CS (NYSE: LAW – Get a rating) last released its quarterly earnings data on Thursday, May 12. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.06. The company posted revenue of $34.50 million for the quarter, versus a consensus estimate of $30.68 million. CS Disco had a negative return on equity of 18.88% and a negative net margin of 26.05%. The company’s quarterly revenue increased 63.3% year over year. In the same quarter of the previous year, the company had earned a profit per share of ($0.22).
LAW has been the subject of several research reports. Canaccord Genuity Group reduced its price target on CS Disco from $45.00 to $35.00 in a Friday, May 13 research report. Jefferies Financial Group reduced its price target on CS Disco from $40.00 to $35.00 in a research report Monday, May 23. Stifel Nicolaus lowered his price target on CS Disco from $60.00 to $50.00 and set a “buy” rating on the stock in a Monday, March 21 research report. Citigroup lowered its price target on CS Disco to $33.00 and gave the stock an “na” rating in a Monday, May 16 research report. Finally, Cowen lowered his price target on CS Disco from $45.00 to $35.00 in a Friday, May 13 research report. One research analyst gave the stock a hold rating and eleven gave the company’s stock a buy rating. According to MarketBeat, CS Disco has a consensus buy rating and a consensus target price of $45.14.
In other CS Disco news, CFO Michael Lafair sold 14,000 shares of the company in a trade on Thursday, March 3. The shares were sold at an average price of $34.16, for a total transaction of $478,240.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Also, CRO Andre Shimek sold 15,000 shares of the company in a trade on Friday, April 8. The shares were sold at an average price of $31.94, for a total transaction of $479,100.00. Following the sale, the executive now owns 126,574 shares of the company, valued at $4,042,773.56. Disclosure of this sale can be found here. During the last quarter, insiders sold 43,000 shares of the company valued at $1,458,680.
A number of institutional investors have recently changed their holdings in LAW. Deer Management Co. LLC bought a new position in CS Disco in Q4 worth $355,905,000. Stephens Group LLC bought a new position in CS Disco in Q4 worth $323,194,000. Dragoneer Investment Group LLC increased its holdings in CS Disco by 277.1% in Q4. Dragoneer Investment Group LLC now owns 3,426,535 shares of the company worth $122,499,000 after purchasing an additional 2,517,885 shares during the period. Norges Bank bought a new stock position in CS Disco during Q4, valued at approximately $82,850,000. Finally, Wasatch Advisors Inc. bought a new position in CS Disco stock during Q3 worth approximately $99,823,000. 79.42% of the shares are held by institutional investors.
Shares of NYSE: LAW opened at $26.78 on Friday. CS Disco has a 1-year low of $19.57 and a 1-year high of $69.41. The company has a market capitalization of $1.57 billion and a PE ratio of -34.33. The stock’s 50-day moving average is $29.83 and its 200-day moving average is $33.38.
About CS Disco (Get a rating)
CS Disco, Inc, a legal technology company, provides cloud-native, artificial intelligence-powered legal solutions for e-discovery, legal document review, and case management for enterprises, law firms , legal service providers and governments. The company offers DISCO Ediscovery, a solution that automates the eDiscovery process and frees legal departments from the manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, to the production and use of corporate data that are at issue in legal matters.
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