TipRanksStock Market NewsLAW NewsNeedham Thinks CS Disco’s Stock is Going to Recover

Needham Thinks CS Disco’s Stock is Going to Recover

In a report released today, Scott Berg from Needham maintained a Buy rating on CS Disco (LAWResearch Report), with a price target of $70.00. The company’s shares closed last Tuesday at $33.82, close to its 52-week low of $33.04.

According to TipRanks.com, Berg is a 5-star analyst with an average return of 21.4% and a 58.8% success rate. Berg covers the Technology sector, focusing on stocks such as Ceridian HCM Holding, BigCommerce Holdings, and Tyler Technologies.

Currently, the analyst consensus on CS Disco is a Strong Buy with an average price target of $63.83, implying a 94.7% upside from current levels. In a report issued on January 6, Jefferies also upgraded the stock to Buy with a $50.00 price target.

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The company has a one-year high of $69.41 and a one-year low of $33.04. Currently, CS Disco has an average volume of 385.1K.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is neutral on the stock.

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CS Disco Inc provides a cloud-native, artificial intelligence-powered legal solution that simplifies discovery, legal document review, and case management for enterprises, law firms, legal services providers, and governments. Its revenue-generating activities directly relate to the sale and support of legal solutions. It has two primary types of contractual arrangements: usage-based and subscription solutions. The usage-based revenue is derived from contracts under which customers are billed monthly based on their usage. Subscription revenue is derived from contracts where customers are contractually committed to a minimum data volume over a period of time.

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