CS Disco Gets Price Target Cuts By Analysts Following Weak Forecast, Shares Plummet

CS Disco Gets Price Target Cuts By Analysts Following Weak Forecast, Shares Plummet

CS Disco, Inc. LAW reported results for the second quarter and issued weak Q3 guidance.

CS Disco said it sees Q3 revenue of $32 million to $34 million, versus analysts’ estimates of $38.29 million.

CS Disco shares dipped 33% to $19.40 in pre-market trading.

Several analysts made changes to their price targets on CS Disco today.

  • Piper Sandler cut price target on the stock from $28 to $25. However, Piper Sandler analyst Arvind Ramnani maintained CS Disco with an Overweight.
  • Cowen & Co. lowered CS Disco’s price target from $35 to $20. Cowen & Co. analyst J. Derrick Wood also downgraded the stock from Outperform to Market Perform.
  • Jefferies cut the price target on the stock from $35 to $25. Jefferies analyst Brent Thill also downgraded CS Disco from Buy to Hold.
  • B of A Securities reduced the price target on CS Disco from $34 to $25. B of A Securities analyst Koji Ikeda also downgraded the stock from Buy to Neutral.

 

Posted In: Price Target CutsEarningsNewsPrice TargetSmall CapPre-Market OutlookMarketsAnalyst Ratings